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 Nortel Networks Corporation 11/1/00 - 2/15/01 April 17, 2001 (NYSE:NT) CommTouch Software Ltd. 4/19/00 - 2/13/01 April 17, 2001 (Nasdaq:CTCH) NorthPoint Communications Group 8/8/00 - 11/29/00 April 17, 2001 (Nasdaq:NPNTQ)
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.
Nortel Networks Corporation (NYSE:NT) -- The complaint, filed in United States District Court for the Eastern District of New York, alleges that Nortel Networks and certain of its officers and directors violated the federal securities laws by disseminating various material misrepresentations to the market during the Class Period concerning demand for its products. The complaint alleges that these material misrepresentations caused Nortel Networks stock to trade at artificially inflated levels throughout the Class Period. Furthermore, the complaint alleges that on February 15, 2001, Nortel Networks drastically lowered its guidance for its FY 2001 because of decreased demand for its products, which caused its stock to plummet.
CommTouch Software Ltd. (Nasdaq:CTCH) -- The complaint, filed in United States District Court for the Northern District of California, alleges that CommTouch and certain of its officers and directors violated the federal securities laws by disseminating false information regarding CommTouch's financial condition. Specifically, the complaint alleges that on February 14, 2001 CommTouch announced that it would restate its Q1 - Q3 2000 financial statements because of accounting misstatements contained in its initial financial statements, which CommTouch disseminated to the market during the Class Period. The complaint alleges that the inaccurate financial information caused CommTouch stock to trade at artificially inflated levels throughout the Class Period.
NorthPoint Communications Group (Nasdaq:NPNTQ) -- The complaint, filed in United States District Court for the Northern District of California, alleges that NorthPoint and certain of its officers and directors violated the federal securities laws by disseminating materially false and misleading information regarding NorthPoint's financial condition and future growth potential, and as a result of this false and misleading information NorthPoint stock traded at artificially inflated levels throughout the Class Period. Specifically, the complaint alleges that NorthPoint would have to restate its Q3 2000 financial statements due to accounting misstatements in its earlier financials which failed to comply with Generally Accepted Accounting Principles.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca