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Kaplan, Kilsheimer & Fox LLP Files Class Action Lawsuits Against Several Companies

Strategic Insights

— 1 min read

Kaplan, Kilsheimer & Fox LLP, a law firm with a reputation for prosecuting investor class actions, has filed lawsuits against several companies on behalf of shareholders who purchased securities during specific time periods. The lawsuits allege that these companies engaged in financial fraud, making false and misleading statements about their financial condition and business prospects. The firms' actions have resulted in substantial recoveries, with investors seeking justice and compensation for their losses.

Key Takeaways:

  • Kaplan, Kilsheimer & Fox LLP has filed class action lawsuits against AVT Corporation, eConnect, Inc., FINOVA Group, Inc., MicroStrategy, Inc., Pacific Gateway Exchange, Inc., and SCB Computer Technology, Inc.
  • The lawsuits allege that these companies made false and misleading statements about their financial condition and business prospects, causing their stock prices to be artificially inflated.
  • Insiders at these companies sold tens of thousands of shares of stock at artificially inflated prices, reaping millions of dollars in profits.
  • The companies' accounting practices were called into question, with allegations of accounting irregularities and misstatements of revenue and earnings.
  • Several companies are being investigated by the Securities and Exchange Commission (SEC) and facing consequences, including trading suspensions and consent decrees.
  • Kaplan, Kilsheimer & Fox LLP has a history of successfully prosecuting investor class actions, with substantial recoveries obtained in past cases.
  • Investors can visit the firm's website at www.kkf-law.com or email mail@kkf-law.com or call (800) 290-1952 to learn more about the actions and their rights.

Statistics:

  • AVT Corporation: $46 million in insider trading proceeds, Class Period: January 20, 2000 - March 17, 2000
  • eConnect, Inc.: alleged misrepresentations regarding revenue generated from websites and licensing agreements, Class Period: November 18, 1999 - March 13, 2000
  • FINOVA Group, Inc.: $70 million charge in the first quarter of 2000, Class Period: July 15, 1999 - March 26, 2000
  • MicroStrategy, Inc.: $77 million in insider trading proceeds, Class Period: June 11, 1998 - March 17, 2000
  • Pacific Gateway Exchange, Inc.: downward restatement of quarterly earnings for 1999, Class Period: May 13, 1999 - March 31, 2000
  • SCB Computer Technology, Inc.: allegations of accounting irregularities, Class Period: June 15, 1998 - April 14, 2000

Sources:

  • Kaplan, Kilsheimer & Fox LLP
  • Business Wire
  • Securities and Exchange Commission (SEC)
  • NASDAQ
  • eConnect, Inc.
  • FINOVA Group, Inc.
  • MicroStrategy, Inc.
  • Pacific Gateway Exchange, Inc.
  • SCB Computer Technology, Inc.

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