WASHINGTON, July 23, 2001 (PRIMEZONE) -- The Law Office of Mark McNair announced that it has filed a securities class action lawsuit against Robotic Vision Systems, Inc. (Nasdaq:ROBV), Emex Corporation (Nasdaq:EMEX), Chronimed, Inc. (Nasdaq:CHMD), and Duratek, Inc. (Nasdaq:DRTK).
Robotic Vision Systems, Inc. (Nasdaq:ROBV) Class Period: January 27, 2000 to May 15, 2001. Lead Plaintiff Date: August 6, 2001 On May 15, 2001, the Company announced that it would restate its financial results for the fiscal year ended September 30, 2000, and for the first three month period ended December 31, 2000, to correct "accounting errors" tied to revenue recognition at its Acuity CiMatrix division.
Company: Emex Corporation (Nasdaq:EMEX) Class Period: April 9, 2001 to May 23, 2001 Lead Plaintiff Date: August 6, 2001 Case Summary: The complaint alleges that the Company made a false and misleading press release on April 9, 2001, concerning its successful attempt to secure much-needed financing. The Company indicated that due to the efforts of Credit Suisse First Boston it had obtained $100 million in project financing to build the first of a series of plants. On May 23, 2001, Dow Jones Newswires broke the news that Credit Suisse First Boston was not involved in the financing and that, in fact, CSFB had turned down the proposal.
Company: Chronimed, Inc. (Nasdaq:CHMD) Class Period: October 27, 1999 to June 13, 2001 Lead Plaintiff Date: August 14, 2001 Case Summary: On June 14, 2001, The Company announced that it intended to adjust its results for the fiscal year ended June 30, 2000 and for the three subsequent quarters because it had overstated its overall revenue, earnings, and accounts. The Company indicated that its computer accounting system at its StatScript retail pharmacy chain allowed certain prescriptions to be recorded as revenue more than once. Nasdaq quickly halted all trading in Chronimed stock following its announcement.
Company: Duratek, Inc. (Nasdaq:DRTK) Class Period: March 9, 2000 to March, 13, 2001 Lead Plaintiff Date: August 21, 2001 Case Summary: On March 14, 2001, the Company announced that additional burial and transportation costs would adversely affects it fourth quarter and fiscal year financial results as well as the financial results for the first quarter of 2001. On April 18, 2001, the Company further announced that it was restating its previously reported consolidated financial results for 1999 and the first three quarters of 2000 to reflect a reconciliation that had not been previously performed.
To sign up online and/or view any of the complaints, go to www.justice4investors.com.
To serve as lead plaintiff, you must meet certain legal requirements. The Law Offices of Mark McNair recognizes that investors with significant losses often are uncertain about the class action process and they are unclear whether they should take an active role in a case. The Law Office of Mark McNair would be happy to review this process with you.
If you have any questions, please contact Mark McNair at 1819 Pennsylvania Ave. N.W. Suite 550, Washington, D.C, 20006 by telephone at (877) 511.4717, via e-mail at wmmcnair@justice4investors.com or visit our Website www.justice4investors.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.