Donovan Searles, LLC Advises Pension Funds and Investors of Recently Filed Securities Class Actions
PHILADELPHIA--(BUSINESS WIRE)--March 8, 2000--According to Donovan Searles, LLC, investors have recently sued or are investigating the following companies for alleged securities fraud: Aurora Foods, Inc. (AOR); Campbell Soup Company (CPB); FLIR Systems, Inc. (FLIR); Indus International, Inc. (IINT); Lucent Technologies, Inc. (LU); Policy Management Systems Corporation (PMS); Ravisent Technologies, Inc. (RVST); Safety-Kleen Corp. (SK); Sunstar Healthcare, Inc. (SUNS); Sunterra Corporation (OWN); and Value America, Inc. (VUSA).
If you purchased common stock of any of these companies and suffered a loss on your investment, you may be a member of the shareholder class and should consider contacting Donovan Searles, LLC concerning your legal rights and interests in these cases. You can contact the firm at (800) 619-1677.
AURORA FOODS, INC.: Aurora Foods and certain of its officers and directors have been charged with issuing false and misleading statement s concerning the Company's financial condition. If you purchased stock in the period February 23, 1999 to February 17, 2000, and suffered a loss, you may be eligible for inclusion in the class action.
CAMPBELL SOUP COMPANY: Campbell Soup Company and certain of its officers and directors are charged with issuing false and misleading statements concerning its business and finances by, among other things, claiming to have sold product to major distributors or resellers when in fact it had not. If you purchased stock in the period November 18, 1997 to January 8, 1999, and suffered a loss, you may be eligible for inclusion in the class action.
FLIR SYSTEMS, INC.: FLIR announced yesterday that it had overstated its revenue and net earnings because of accounting errors. If you purchased stock in the period March 1, 1999 to March 6, 2000, and suffered a loss, you may be a member of the class.
INDUS INTERNATIONAL, INC.: On January 29, 2000 the Company announced that after an in-depth review of its revenue recognition practices by the Company's auditors it was restating its financial statements for the third quarter ending September 30, 1999, reducing net income 89%. If you purchased stock in the period October 29, 1999 to January 27, 2000, and suffered a loss, you may be a member of the class.
LUCENT TECHNOLOGIES, INC.: Lucent and certain of its officers and directors have been charged with issuing false and misleading statements concerning the Company's deteriorating financial condition. If you purchased stock in the period October 27, 1999 to January 6, 2000, and suffered a loss, you may be a member of the class.
POLICY MANAGEMENT SYSTEMS: On February 10, 2000, the Company announced that it will not be releasing final 1999 fourth quarter and full year results as scheduled due to an incomplete audit, and that the Company now expects to report an operating loss. Investors who purchased stock in the period October 22, 1998 to February 9, 2000, and who lost money on their investments, can be part of this class action.
RAVISENT TECHNOLOGIES, INC.: Ravisent Technologies and certain of its officers and directors have been charged with issuing false and misleading statements concerning the Company's revenue recognition policy, revenues and income. Investors who purchased stock in the period July 15, 1999 to February 17, 2000 and who lost money on their investments, can be part of this class action.
SAFETY-KLEEN CORP: The Company announced on March 6, 2000 that it had begun an investigation of its financial results back to 1998 and had put its top executives on administrative leave pending the outcome.
SUNSTAR HEALTHCARE, INC.: Sunstar and certain of its officers and directors have been charged with issuing false and misleading information concerning the Company's business, financial condition, earnings and prospects. If you purchased stock in the period November 13, 1998 to December 14, 1999, and suffered a loss, you may be part of this class.
SUNTERRA CORPORATION: Sunterra and certain of its officers and directors allegedly issued false and misleading statements concerning the Company's business and financial condition, specifically its delinquent accounts receivable. If you purchased stock in the period October 4, 1998 to January 19, 2000, and suffered a loss, you may be part of this class.
VALUE AMERICA, INC.: Value America and certain of its officers and directors have been charged with issuing false and misleading statements concerning the true operating condition and financial performance of the Company. If you purchased stock in the April 7, 1999 IPO or in the period April 7, 1999 to December 28, 1999 you may be a member of the class.
If you are a member of the classes described above, you may want to protect your interests directly by serving as lead plaintiff. There are time limits within which you must act in order to serve as a lead plaintiff. If you wish to discuss your rights or any of these actions, please contact Michael D. Donovan or Ann Searles at Donovan Searles, LLC, 1845 Walnut Street, Suite 1100, Philadelphia, PA 19103; phone: (215) 732-6067, e-mail: mdonovan@donovansearles.com or by clicking here