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Securities Class Action Lawsuits: Berman, DeValerio & Pease LLP Announces Investigations and Lawsuits

Strategic Insights

— 1 min read

Berman, DeValerio & Pease LLP, a law firm specializing in representing shareholders in class action lawsuits, has announced investigations and lawsuits against several companies, alleging securities fraud and misleading investors. The firm has issued a press release, notifying potential class members and encouraging them to contact the firm to learn about their rights and interests in the case. The companies listed in the press release include Corel Corp., eConnect Inc., MicroStrategy Inc., and Pacific Gateway Exchange Inc.

Key Takeaways:

  • Berman, DeValerio & Pease LLP is investigating Corel Corp. for misleading investors regarding its fourth-quarter 1999 financial results.
  • The class period for Corel Corp. is from December 7, 1999, to December 21, 1999.
  • The firm is also investigating eConnect Inc., alleging that the company artificially inflated its stock price by making false statements about a purported Palm pilot licensing deal.
  • The class period for eConnect Inc. is from November 18, 1999, to March 13, 2000.
  • Berman, DeValerio & Pease LLP is alleged that MicroStrategy Inc. prematurely recorded revenues, violating GAAP and causing its publicly reported revenues and earnings to be materially overstated.
  • The class period for MicroStrategy Inc. is from June 11, 1998, to March 18, 2000.
  • The firm is investigating Pacific Gateway Exchange Inc. for issuing false and misleading financial statements and misleading investors.
  • The class period for Pacific Gateway Exchange Inc. is from May 13, 1999, to March 31, 2000.
  • Berman, DeValerio & Pease LLP has substantial experience in prosecuting class actions and has been appointed lead counsel in many significant shareholder lawsuits.

Statistics:

  • The time period for the various class actions ranges from June 11, 1998, to March 31, 2000.
  • The class periods for the different companies are:

+ Corel Corp.: December 7, 1999, to December 21, 1999

+ eConnect Inc.: November 18, 1999, to March 13, 2000

+ MicroStrategy Inc.: June 11, 1998, to March 18, 2000

+ Pacific Gateway Exchange Inc.: May 13, 1999, to March 31, 2000

Sources:

  • Business Wire (2000). "Berman, DeValerio & Pease LLP Issues Press Release Regarding Investigations and Lawsuits".
  • Berman, DeValerio & Pease LLP (2000). "Press Release: Investigations and Lawsuits".

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