NEW YORK, June 19, 2002 (PRIMEZONE) -- Kaplan Fox (kaplanfox.com) has filed a class action against Peregrine Systems, Inc. ("Peregrine" or the "Company") (Nasdaq:PRGN) and certain of its officers and directors in the United States District Court for the Southern District of California. The suit is brought on behalf of all persons or entities, who purchased or otherwise acquired securities of Peregrine between July 19, 2000 and May 3, 2002, inclusive (the "Class Period").
The complaint alleges that Peregrine and certain of its officers and directors violated the federal securities laws. The complaint alleges, among other things, that during the Class Period defendants issued a series of materially false and misleading statements regarding Peregrine and its audit activities. On Monday, May 6, 2002, Peregrine announced that its board of directors had authorized the audit committee of the board to conduct an internal investigation into accounting inaccuracies, totaling as much as $ 100 million. Simultaneously the board of directors announced that Peregrine's Chairman of the Board and Chief Executive Officer and its Chief Financial Officer had both resigned their positions with the Company. As a result, investors were damaged, by purchasing Peregrine's securities at artificially inflated levels during the Class Period.
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 and New Jersey, 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 8, 2002 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. Lori Sambol, Esq. Kaplan Fox & Kilsheimer LLP 601 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