BALTIMORE, Md., Nov. 25, 2002 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action has been commenced on behalf of all persons who purchased and/or acquired American Depository Shares ("ADSs") of SmartForce plc d/b/a SkillSoft ("SmartForce" or the "Company") between October 19, 1999 through and including November 18, 2002 (the "Class Period"), to recover damages caused by the defendants' violation of federal securities laws. Specifically, this Class Period includes the following members: (1) all purchasers of SmartForce plc's ADSs from October 19, 1999 through September 6, 2002, trading under the ticker symbol SMTF; (2) all persons who acquired shares of SmartForce plc's ADSs as part of the merger between SmartForce plc and SkillSoft Corporation completed on or around September 6, 2002; (3) all purchasers of SmartForce plc's ADSs after September 6, 2002 when it began doing business as "SkillSoft" trading under the ticker symbols (Nasdaq:SKILD) and then (Nasdaq:SKIL).
The case is pending in the United States District Court for the District of New Hampshire against defendants SmartForce plc d/b/a SkillSoft and executives William McCabe and Gregory Priest.
The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's 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 are a member of the Class, you may move the court no later than January 21, 2003 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements. 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 were a purchaser of shares of the Company listed above during the period indicated and want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Law Offices Of Charles J. Piven has been involved in securities litigation for over ten years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/986-0036.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca