LOS ANGELES, March 28, 2003 (PRIMEZONE) -- Glancy & Binkow LLP - representing shareholders of Atmel Corporation - announces 11 days remaining to move to be a lead plaintiff in the shareholder lawsuit. All persons and institutions who purchased securities of Atmel Corporation ("Atmel" or the "Company") (Nasdaq:ATML) between January 20, 2000 and July 31, 2002, inclusive (the "Class Period"), may move the Court not later than April 8, 2003, to serve as lead plaintiff, however, you must meet certain legal requirements.
If you wish to receive a copy of the Complaint, or have any questions concerning your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy & Binkow LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9161, Toll Free at (888) 773-9224, or e-mail to info@glancylaw.com, or visit our website at www.glancylaw.com.
The Complaint charges Atmel and certain of its executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants' omissions and misleading statements concerning Atmel's revenue and earnings caused Atmel's stock price to become artificially inflated, inflicting damages on investors. Atmel manufactures computer chips for wireless phones, computer disk drives and DVD players. The complaint alleges that during the Class Period, defendants caused Atmel's shares to trade at artificially inflated levels through the issuance of false and misleading financial statements, while at the same time concealing that Atmel was selling defective chips to its customers which would lead to product recalls, repairs and loss of customer relationships. On July 31, 2002, news reports disclosed that Seagate Technology, Inc. had filed a lawsuit alleging that Atmel chips caused flaws in millions of disk drives which Seagate manufactured from 1999 to 2001. The complaint further alleges that while Atmel's stock price was artificially inflated due to defendants' false statements, defendants sold more than $500 million in notes in a private placement offering. Atmel later registered these securities for resale via a Registration Statement.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy & Binkow LLP, a law firm with significant experience in prosecuting shareholder lawsuits, and substantial expertise in actions involving corporate fraud.
More information on this and other class actions can be found on theClass Action Newsline at www.primezone.com/ca.