BENSALEM, Pa., March 31, 2007 (PRIME NEWSWIRE) -- Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of shareholders who acquired the common stock of U.S. Auto Parts Network, Inc. (Nasdaq:PRTS) ("U.S. Auto Parts" or the "Company") pursuant to the Company's Registration Statement and Prospectus issued in connection with its initial public offering commencing February 8, 2007. The class action lawsuit was filed in the United States District Court for the Central District of California.
The Complaint alleges that defendants violated federal securities laws by issuing material misrepresentations to the market concerning the Company's business and prospects, thereby artificially inflating the price of U.S. Auto Parts securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you acquired U.S. Auto Parts common stock pursuant or traceable to the Company's initial public offering, you have certain rights, and have until May 28, 2007, to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmithlaw@hotmail.com or visit our website at www.howardsmithlaw.com.