SAN DIEGO, July, 1, 2002 (PRIMEZONE) -- The Law Firm of Robbins Umeda & Fink, LLP announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of Missouri on behalf of purchasers of the common stock of Amdocs Limited ("Amdocs" or the "Company") (NYSE:DOX) between July 18, 2000 and June 20, 2002, inclusive (the "Class Period"). If you are a member of this class, you can join this class action online at http://www.ruflaw.com/join.html.
The complaint charges Amdocs and certain of its officers and directors with issuing false and misleading statements concerning its business and financial condition. Specifically, the complaint alleges that these statements failed to disclose, among other things, that the Company's business and operations were being negatively affected by a host of adverse factors, including, but not limited to, the following: (i) Amdocs was experiencing declining sales as its business began to be affected by adverse market forces; and (ii) Amdocs artificially inflated its financial statements by maintaining inadequate reserves for doubtful accounts and failing to disclose that Amdocs' revenue growth improperly included revenues from a recent acquisition. Furthermore, defendants lacked a reasonable basis upon which to publish and/or affirm the revenue guidance they provided to analysts and investors. A copy of the complaint filed in this action is available from the Court, or can be obtained by contacting Robbins Umeda & Fink, LLP.
If you bought the common stock of Amdocs between July 18, 2000 and June 20, 2002, you may, no later than August 26, 2002, request that the Court appoint you as a lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Robbins Umeda & Fink, LLP, or other counsel of your choice, to serve as your counsel in this action.
Robbins Umeda & Fink, LLP has significant experience prosecuting class actions on behalf of investors. If you wish to discuss this action, please call or e-mail the Firm at:
ROBBINS UMEDA & FINK, LLP Marc M. Umeda, Esq. 1010 Second Ave., Suite 2360 San Diego, CA 92101 Toll Free: 1-800-350-6003 E-mail: info@ruflaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.