BALA CYNWYD, Pa., Sept. 25, 2001 (PRIMEZONE) -- Schiffrin & Barroway, LLP announced today that it recently filed lawsuits on behalf of shareholders of OpenTV Corp., Handspring, Inc., Aspect Medical Systems, Inc. and Firepond, Inc. for violations of the federal securities laws.
If you purchased the securities of any of the companies listed below during the respective class periods, you may be a member of the class and have until the date specified to move the court to become the lead plaintiff. For more information on a particular lawsuit and to view the complaint, you may visit our Website at www.sbclasslaw.com. To learn more about your rights and interests in these cases and your ability to potentially recoup your losses, please contact Schiffrin & Barroway directly at (888) 299-7706 (toll free) or (610) 667-7706, fax number (610) 667-7056 or by e-mail at info@sbclasslaw.com.
OPENTV CORP. (Nasdaq:OPTV) (Class Period: 11/22/99 - 12/06/00). On or about November 22, 1999, OpenTV commenced an initial public offering of 7,500,000 of its shares of common stock at an offering price of $20 per share (the "OpenTV IPO"). In connection therewith, OpenTV filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) Merrill Lynch had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Merrill Lynch allocated to those investors material portions of the restricted number of OpenTV shares issued in connection with the OpenTV IPO; and (ii) Merrill Lynch had entered into agreements with customers whereby Merrill Lynch agreed to allocate OpenTV shares to those customers in the OpenTV IPO in exchange for which the customers agreed to purchase additional OpenTV shares in the aftermarket at pre-determined prices. The complaint was filed in the U.S. District Court for the Southern District of New York. The lead plaintiff motion must be filed no later than October 1, 2001.
HANDSPRING, INC. (Nasdaq:HAND) (Class Period: 06/21/00 - 07/30/01). On or about June 21, 2000, Handspring commenced an initial public offering of 10,000,000 of its shares of common stock at an offering price of $20 per share (the "Handspring IPO"). In connection therewith, Handspring filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) defendants had solicited and received excessive and undisclosed commissions from certain investors in exchange for which defendants allocated to those investors material portions of the restricted number of Handspring shares issued in connection with the Handspring IPO; and (ii) defendants had entered into agreements with customers whereby defendants agreed to allocate Handspring shares to those customers in the Handspring IPO in exchange for which the customers agreed to purchase additional Handspring shares in the aftermarket at pre-determined prices. As alleged in the complaint, the SEC is investigating underwriting practices in connection with several other initial public offerings. The complaint was filed in the U.S. District Court for the Southern District of New York. The lead plaintiff motion must be filed no later than October 1, 2001.
ASPECT MEDICAL SYSTEMS, INC. (Nasdaq:ASPM) (Class Period: 01/28/00 - 12/06/00). On or about January 28, 2000, Aspect Medical commenced an initial public offering of 3,500,000 of its shares of common stock at an offering price of $15 per share (the "Aspect Medical IPO"). In connection therewith, Aspect Medical filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) Morgan Stanley had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Morgan Stanley allocated to those investors material portions of the restricted number of Aspect Medical shares issued in connection with the Aspect Medical IPO; and (ii) Morgan Stanley had entered into agreements with customers whereby Morgan Stanley agreed to allocate Aspect Medical shares to those customers in the Aspect Medical IPO in exchange for which the customers agreed to purchase additional Aspect Medical shares in the aftermarket at pre-determined prices. As alleged in the complaint, the SEC is investigating underwriting practices in connection with several other initial public offerings. The complaint was filed in the U.S. District Court for the Southern District of New York. The lead plaintiff motion must be filed no later than October 1, 2001.
FIREPOND, INC. (Nasdaq:FIRE) (Class Period: 02/03/00 - 12/06/00). On or about February 3, 2000, Firepond commenced an initial public offering of 5,000,000 of its shares of common stock at an offering price of $22 per share (the "Firepond IPO"). In connection therewith, Firepond filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) Robertson Stephens had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Robertson Stephens allocated to those investors material portions of the restricted number of Firepond shares issued in connection with the Firepond IPO; and (ii) Robertson Stephens had entered into agreements with customers whereby Robertson Stephens agreed to allocate Firepond shares to those customers in the Firepond IPO in exchange for which the customers agreed to purchase additional Firepond shares in the aftermarket at pre-determined prices. The complaint was filed in the U.S. District Court for the Southern District of New York. The lead plaintiff motion must be filed no later than October 1, 2001.
Schiffrin & Barroway, LLP has prosecuted shareholder class actions for more than 14 years and has recovered more than $1 billion for investors. If you are a shareholder in any of the companies listed above and would like to be a lead plaintiff in one of these securities class actions, please contact Schiffrin & Barroway at (888) 299-7706.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca