BALA CYNWYD, Pa., Nov. 19, 2001 (PRIMEZONE) -- Schiffrin & Barroway, LLP announced today that it recently filed lawsuits on behalf of shareholders of Interwoven, Inc., OraPharma, Inc., Sonus Networks, Inc. and NetRatings, Inc. for violations of the federal securities laws.
If you purchased the securities of any of the companies listed below during the class period, 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 610-822-2221, fax number 610-822-0002, or by e-mail at info@sbclasslaw.com
INTERWOVEN, INC. (Nasdaq:IWOV) (Class Period: 10/07/99 - 12/06/00) The complaint alleges violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about October 7, 1999, Interwoven commenced an initial public offering of 3,150,000 of its shares of common stock at an offering price of $17 per share (the "Interwoven IPO"). In connection therewith, Interwoven filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) the Underwriters had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriters allocated to those investors material portions of the restricted number of Interwoven shares issued in connection with the Interwoven IPO; and (ii) the Underwriters had entered into agreements with customers whereby the Underwriters agreed to allocate Interwoven shares to those customers in the Interwoven IPO in exchange for which the customers agreed to purchase additional Interwoven shares in the aftermarket at pre-determined prices. The complaint was filed in the United States District Court for the Southern District of New York, located at 500 Pearl Street, New York, NY. The lead plaintiff motion must be filed no later than January 8, 2002.
ORAPHARMA, INC. (Nasdaq:OPHM) (Class Period: 3/09/00 - 12/06/00) The complaint alleges violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about March 9, 2000, Orapharma commenced an initial public offering of 4,000,000 of its shares of common stock at an offering price of $17 per share (the "Orapharma IPO"). In connection therewith, Orapharma filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) the Underwriters had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriters allocated to those investors material portions of the restricted number of Orapharma shares issued in connection with the Orapharma IPO; and (ii) the Underwriters had entered into agreements with customers whereby the Underwriters agreed to allocate Orapharma shares to those customers in the Orapharma IPO in exchange for which the customers agreed to purchase additional Orapharma shares in the aftermarket at pre-determined prices. The complaint was filed in the United States District Court for the Southern District of New York, located at 500 Pearl Street, New York, NY. The lead plaintiff motion must be filed no later than January 8, 2002.
SONUS NETWORKS, INC. (Nasdaq:SONS) (Class Period: 5/24/00 - 12/06/00) The complaint alleges violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about May 24, 2000, Sonus Networks commenced an initial public offering of 5,000,000 of its shares of common stock at an offering price of $23 per share (the "Sonus Networks IPO"). In connection therewith, Sonus Networks filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) the Underwriters had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriters allocated to those investors material portions of the restricted number of Sonus Networks shares issued in connection with the Sonus Networks IPO; and (ii) the Underwriters had entered into agreements with customers whereby the Underwriters agreed to allocate Sonus Networks shares to those customers in the Sonus Networks IPO in exchange for which the customers agreed to purchase additional Sonus Networks shares in the aftermarket at pre-determined prices. The complaint was filed in the United States District Court for the Southern District of New York, located at 500 Pearl Street, New York, NY. The lead plaintiff motion must be filed no later than January 8, 2002.
NETRATINGS, INC. (Nasdaq:NTRT) (Class Period: 12/09/99 - 12/06/00) The complaint alleges violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about December 9, 1999, NetRatings commenced an initial public offering of 4,000,000 of its shares of common stock at an offering price of $17 per share (the "NetRatings IPO"). In connection therewith, NetRatings filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) the Underwriters had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriters allocated to those investors material portions of the restricted number of NetRatings shares issued in connection with the NetRatings IPO; and (ii) the Underwriters had entered into agreements with customers whereby the Underwriters agreed to allocate NetRatings shares to those customers in the NetRatings IPO in exchange for which the customers agreed to purchase additional NetRatings shares in the aftermarket at pre-determined prices. The complaint was filed in the United States District Court for the Southern District of New York, located at 500 Pearl Street, New York, NY. The lead plaintiff motion must be filed no later than January 5, 2002.
Schiffrin & Barroway, LLP has prosecuted shareholder class actions for over fourteen 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 these and other class actions can be found at www.primezone.com/ca.