Spector & Roseman Files Class Action Lawsuits Against Eight Companies

Strategic Insights -

Spector & Roseman, a Philadelphia-based law firm, has filed class action lawsuits against eight companies on behalf of shareholders who purchased securities during specified Class Periods. The lawsuits allege that the companies made false and misleading statements about their financial condition, earnings, and prospects, artificially inflating their stock prices. The firm is seeking to recover damages on behalf of the defrauded investors.

Key Takeaways:

  • Spector & Roseman filed class action lawsuits against eight companies: Navigant Consulting, Inc., Bank One Corp., Lason, Inc., Xerox Corporation, Tyco International, Ltd., S3, Inc., Altris Software, Compaq Computer Corp., Dreyfus Aggressive Growth Fund, Mitcham Corporation, and Vivus, Inc.
  • The lawsuits allege that the companies made false and misleading statements about their financial condition, earnings, and prospects, resulting in artificially inflated stock prices.
  • The class periods for each lawsuit are specified in the original text: Navigant Consulting, Inc. (5/6/99 - 11/19/99), Bank One Corp. (10/22/98-11/10/99), Lason, Inc. (12/9/99 - 12/17/99), Xerox Corporation (1/25/99 - 10/7/99), Tyco International, Ltd. (10/1/98-12/8/99).
  • Spector & Roseman is seeking to recover damages on behalf of the defrauded investors in these lawsuits.
  • The firm has a reputation for excellence in complex litigation, including actions dealing with securities laws, antitrust, contract, and commercial claims.
  • Spector & Roseman has recovered hundreds of millions of dollars on behalf of thousands of defrauded shareholders and companies through its efforts.

Statistics:

  • Navigant Consulting, Inc. shared price increased by *not specified* during the class period.
  • Bank One Corp. stock price was artificially inflated during the class period, causing *not specified* losses to investors.
  • Lason, Inc. common stock price fell to a low of $11 7/16 per share after the truth regarding the state of its revenue and earnings was revealed, inflicting *not specified* damages on investors.
  • Prior to the disclosure of adverse facts, certain Xerox Corporation insiders sold hundreds of thousands of shares of Xerox common stock to the investing public at artificially inflated prices, realizing *$51.7 million* in proceeds.
  • During the class period, Tyco International, Ltd.'s officers sold over 2.7 million shares of Tyco stock at allegedly artificially inflated prices, realizing at least *$270 million* in proceeds.

Sources:

  • SPECTOR & ROSEMAN, P.C.
  • SPECTOR & ROSEMAN, P.C. website: http://www.spectorandroseman.com
  • BUSINESS WIRE, January 13, 2000