NEW YORK - June 11, 2003 (PRIMEZONE) -- Kaplan Fox (kaplanfox.com) has filed a class action against Lehman Brothers, Inc. ("Lehman") and Michael E. Stanek, in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired the common stock of RealNetworks, Inc. ("RealNetworks" or the "Company") (Nasdaq:RNWK) between July 1, 1999 and June 30, 2001, inclusive (the "Class Period").
The complaint alleges that Defendants issued false and misleading analyst reports to the investing public on RealNetworks, a global provider of software products and services for internet media delivery, in a bid to win or maintain lucrative banking and advisory work from the Company. From July 1999 through June 2001, Lehman maintained its highest rating on RealNetworks stock, despite the fact that the stock lost approximately 90% of its value, falling from a high of $78.59 per share in February 2000 to a low of $7.06 in April 2001. As a result of defendants' false and misleading statements, the market price of RealNetworks common stock was artificially inflated, maintained or stabilized during the Class Period, to the injury of plaintiff and the other Class members who purchased the stock at the time relying on the integrity of the market price of the stock.
Plaintiff seeks to recover damages on behalf of the Class and is represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices in New York, San Francisco, Chicago, New Jersey, Los Angeles and Virginia has many years of experience prosecuting investor class actions and actions involving financial fraud. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com
If you are a member of the Class, you may move the court no later than July 14, 2003 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you have any questions about this Notice, the action, your rights, or your interests, please e-mail us at mail@kaplanfox.com or contact:
Frederic S. Fox, Esq. Donald R. Hall, Esq. Kaplan Fox & Kilsheimer LLP 805 Third Avenue, 22nd Floor New York, NY 10022 (800) 290-1952 (212) 687-1980 Fax: (212) 687-7714 E-mail address: mail@kaplanfox.com Laurence D. King, Esq. Kaplan Fox & Kilsheimer LLP 555 Montgomery Street San Francisco, CA 94111 (415) 772-4700 Fax: (415) 772-4707 E-mail address: mail@kaplanfox.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca