LOS ANGELES, Aug. 2, 2002 (PRIMEZONE) -- On July 3, 2002, Glancy & Binkow LLP filed a class action complaint against SeeBeyond Technology Corporation ("SeeBeyond" or the "Company") (Nasdaq:SBYN) and certain of its senior officers on behalf of purchasers of SeeBeyond securities between April 23, 2001 and April 22, 2002, inclusive (the "Class Period"). Glancy & Binkow LLP is continuing its investigation into SeeBeyond's misconduct.
A copy of the complaint is available from the U.S. District Court for the Central District of California or from Glancy & Binkow LLP. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy & Binkow LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.
The Complaint charges SeeBeyond and certain of its officers and directors with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and the dissemination of materially false and misleading statements regarding the nature of SeeBeyond's revenue and earnings caused SeeBeyond's stock price to become artificially inflated, inflicting damages on investors. The Complaint alleges that SeeBeyond overstated the demand for its software products and failed to disclose that the Company had improperly recognized certain revenues. The Complaint charges that defendants were in possession of materially adverse information about the Company's improper accounting practices but failed to disclose the information to investors, causing SeeBeyond's stock price to become artificially inflated, inflicting damages on investors.
All persons who purchased securities of SeeBeyond between April 23, 2001, and April 22, 2002, may move the Court not later than September 2, 2002, to serve as lead plaintiff, however, you must meet certain legal requirements.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy & Binkow LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.