ATLANTA, March 23, 2001 (PRIMEZONE) -- Holzer & Holzer recently filed shareholder class action lawsuits on behalf of all those who invested in the following securities during the following periods of time (the "Class Periods").
Company Class Period Lead Plaintiff Deadline Critical Path, Inc. 11/2/00 - 2/1/01 April 3, 2001 (Nasdaq:CPTH) U.S. Interactive, Inc. 2/10/00 - 11/8/00 April 1, 2001 (Nasdaq:USITQ) Emulex Corporation 1/18/01 - 2/9/01 April 21, 2001 (Nasdaq:EMLX)
If you purchased securities in any of the referenced companies during the Class Periods set forth above, you may, no later than the deadline set forth above, move the Court to serve as a lead plaintiff in the action. In order to serve as a lead plaintiff, however, you must meet certain legal requirements. If you have any questions about your rights with respect to these lawsuits, you may contact Holzer & Holzer, Corey D. Holzer, Esq. (toll-free) at (888) 508-6832, or inquire via e-mail to holzerlaw@aol.com.
Critical Path, Inc. (Nasdaq:CPTH) -- The complaint, filed in the United States District Court for the Northern District of California, alleges that Critical Path and certain of its officers and directors violated the Securities Exchange Act of 1934. Specifically, the complaint alleges that, during the Class Period, various companies to which Critical Path provided e-mail hosting services had been suffering from a downturn in Internet-related funding, and in addition, defendants knew that accounting regulations would prohibit Critical Path from continuing to recognize up front license fees in Q4 2000. The complaint alleges that while defendants knew these facts would severely impact Critical Path's future revenue growth, defendants nonetheless continued to make positive but false statements regarding Critical Path's business and future revenues which artificially inflated the price of Critical Path stock during the Class Period.
U.S. Interactive, Inc. (Nasdaq:USITQ) -- The complaint, filed in the United States District Court for the Eastern District of Pennsylvania, alleges that certain officers and directors of U.S. Interactive violated the federal securities laws by disseminating false and misleading information regarding U.S. Interactive's financial condition, and as a result those false and misleading statements, U.S. Interactive stock traded at artificially inflated levels throughout the Class Period. The complaint alleges that during the Class Period defendants knew but failed to disclose, among other things, that several of U.S. Interactive's dot-com clients would not be able to pay U.S. Interactive for services it had rendered.
Emulex Corporation (Nasdaq:EMLX) -- The complaint, filed in the United States District Court for the Central District of California, alleges that Emulex and certain of its officers and directors violated the Securities Exchange Act of 1934. Specifically, the complaint alleges that during the Class Period defendants made positive but false statements concerning Emulex's financial condition and business while concealing material adverse information about customers pushing out orders which might cause sales to fall short of expectations in Emulex's 3Q 01 ended April 1, 2001. As a result, the complaint alleges that Emulex stock traded at artificially inflated levels throughout the Class Period.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca