PHILADELPHIA, Feb. 22, 2002 (PRIMEZONE) -- Law Offices of Brian M. Felgoise, P.C. today announced that a securities class action has been commenced on behalf of shareholders who acquired Advanced Switching Communications, Inc. (Nasdaq:ASCX) securities between October 5, 2000 and February 12, 2002, inclusive (the Class Period).
The case is pending in the United States District Court for the Eastern District of Virginia, against the company and certain key officers and directors.
The action charges that defendants violated the federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased the stock listed above during the class period, you have certain rights. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice.
If you were a purchaser of a stock listed above during the period indicated and want to discuss your legal rights, you may e-mail or call Law Office of Brian M. Felgoise, P.C. who will, without obligation or cost to you, attempt to answer your questions. Law Offices of Brian M. Felgoise, P.C. has extensive experience in the field of class action. You may contact Brian M. Felgoise, Esquire at 230 South Broad Street, Suite 404, Philadelphia, Pennsylvania, 19102, by e-mail at BrianFLaw@yahoo.com or by calling (215) 735-6810.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.