WASHINGTON, April 23, 2002 (PRIMEZONE) -- The Law Office of Mark McNair announces that class action lawsuits are pending in various federal courts on behalf of purchasers of the following securities during the periods set forth below:
Company Class Period
Gerber Scientific, Inc. (NYSE:GRB) May 27, 1999 to April 12, 2002
On April 15, 2002, the Company announced that in response to a SEC investigation into certain of its accounting practices, it was conducting an internal review and once this review is completed it is likely to restate its earnings.
Stillwater Mining Company (NYSE:SWC) April 20, 2001 - April 1, 2002
On April 2, 2002, the Company announced that its accounting practices had been condemned by the SEC and its stock dropped 24%. Among other things, it is alleged that the SEC advised the Company by mid-December 2001/early January 2002 that its methodology for calculating probable ore reserves was improper and would have to be changed.
Gemstar-TV Guide Int. Inc. August 11, 1999 to April 1, 2002 (Nasdaq:GMST)
It is alleged that the Company improperly recognized $107 million in licensing revenue from cable TV equipment maker Scientific Atlantic. Allegedly the Company also booked as "sold" program guides to Fantasy Sports when, in fact, the transactions were barter arrangements.
The Law Office of Mark McNair is currently investigating potential claims against these companies and seeks to recover damages on behalf of class members in these companies. If you purchased securities in any of these companies during the periods listed and wish to discuss your rights and interests in any of these matters, or if you have information relevant to any of the lawsuits, you may contact Mark McNair by calling a toll-free number 1-877.511.4717 or 202.872-4717, or by sending an e-mail to mcnair@justice4investors.com.
If you purchased securities in any of these companies during the Class Periods referenced above and if you meet certain other legal requirements, you may move the court where the lawsuit(s) has been filed within the time period described above to serve as a lead plaintiff.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. For additional information regarding securities class action litigation, go to www.justice4investors.com