ATLANTA, Sept. 15, 2003 (PRIMEZONE) -- Chitwood & Harley announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, on behalf of all purchasers of securities of Check Point Software Technologies, Ltd., ("Check Point" or the "Company"), (Nasdaq:CHKP), between July 10, 2001 and April 4, 2002, inclusive (the "Class Period"). The suit is brought against Check Point, Gil Shwed, Jerry Ungerman, Eyal Desheh, Irwin Federman, and Alex Vieux. The deadline for filing lead plaintiff papers is October 28, 2003. The civil action number is 03 CV 6921. A copy of the complaint is available on our website www.classlaw.com. If you have questions about this case or wish to inquire about representation, you may contact us through our website by clicking on Check Point, or by emailing or calling Jennifer Morris at jlm@classlaw.com or 1-888-873-3999 ext 6883.
The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. Throughout the Class Period, the complaint alleges, defendants issued numerous statements concerning Check Point's revenue growth, product and marketing initiatives, and increasing revenues and profits while failing to disclose that demand for the Company's products was materially declining. When this information was belatedly disclosed to the market on April 4, 2002, shares of Check Point fell as low as $20.09, to close at $22.07, on extremely heavy trading volume.
The deadline to file lead plaintiff papers, for those class members wishing to serve in this capacity, is October 28, 2003. There are certain legal requirements to serve as lead plaintiff, which we would be happy to discuss with you. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to remain an absent class member. If you wish to discuss this action or have any questions concerning this notice or your rights with respect to this matter, you may contact Lauren Antonino or Jennifer Morris at 1-888-873-3999 (toll-free) or by e-mail at jlm@classlaw.com. You may also contact us through our website, www.classlaw.com, by clicking on Check Point.
Chitwood & Harley LLP is a class action firm that concentrates its practice in representing victims of securities fraud and corporate mismanagement, as well as other complex litigation. Chitwood & Harley has been appointed lead counsel in major actions throughout the United States and has been instrumental in recovering billions of dollars on behalf of its clients. Clients and courts alike have praised the results achieved by Chitwood & Harley. Recently, the federal judge in In re BankAmerica Securities Litigation, which resulted in the highest recovery last year in a securities class action, commented favorably on counsel's performance stating: "Class members were well served by experienced attorneys who, through considerable time and effort, obtained a significant recovery for their clients," and, "(a)s the Court has remarked throughout this litigation, class counsel ... have performed at exceptionally high levels, and all parties have been exceedingly well represented."
For more information about Chitwood & Harley, please visit our website at www.classlaw.com or contact Jennifer Morris at 1-888-873-3999 (toll-free), by e-mail at jlm@classlaw.com or at 1230 Peachtree Street, Suite 2300, Atlanta, Georgia 30309.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca