LOS ANGELES, Jan. 18, 2002 (PRIMEZONE) -- On December 5, 2001, The Law Offices of Lionel Z. Glancy commenced the first Class Action lawsuit in the United States District Court for the Central District of California on behalf of a class (the "Class") consisting of all persons who purchased securities of Infonet Services Corp. ("Infonet") (NYSE:IN) between December 16, 1999 and July 31, 2001, inclusive (the "Class Period").
The Complaint charges Infonet and certain of its officers and directors with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and the dissemination of materially false and misleading statements regarding the nature of Infonet's AUCS channel caused Infonet's stock price to become artificially inflated, inflicting enormous damages on investors.
Plaintiff seeks to recover damages on behalf of Class members and is represented by the Law Offices of Lionel Z. Glancy, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than February 22, 2002, to serve as lead plaintiff, however, you must meet certain legal requirements. 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 Michael Goldberg, Esquire, of the Law Offices of Lionel Z. Glancy, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.