LITTLE ROCK, Ark., May 3, 2002 (PRIMEZONE) -- The Emerson Firm announced today that a class action has been filed in the United States District Court for the District of New Jersey on behalf of purchasers of Measurement Specialties, Inc. ("Measurement Specialties" or the "Company") (AMEX:MSS) common stock during the period August 1, 2001 and February 14, 2002, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be obtained from the Firm.
The complaint charges Measurement Specialties and certain of its officers and directors with issuing false and misleading statements concerning its business and financial condition. Specifically, the complaint alleges that the Registration Statement and Prospectus issued in connection with the Offering misrepresented and omitted material facts concerning the Company's financial results. Furthermore, during the Class Period, and in violation of Generally Accepted Accounting Principles, defendants caused Measurement Specialties to falsely report favorable financial results by, among other things, improperly recognizing revenues and overstating inventories. As a result, Measurement Specialties' stock traded at artificially inflated levels during the Class Period.
If you bought Measurement Specialties common stock between August 1, 2001 and February 14, 2002, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than May 20, 2002. If you are a member of this class, you can join this class action by contacting The Emerson Firm. Any member of the purported class may move the Court to serve as lead plaintiff through The Emerson Firm or other counsel of their choice, or may choose to do nothing and remain an absent class member.
The Emerson Firm has substantial experience representing investors in securities fraud class action lawsuits such as this. In fact, the Firm was recently appointed by a Court in Houston to the Plaintiffs' Counsel Steering Committee prosecuting the Enron retirement plan litigation. The firm has offices in Texas and Arkansas, but represents investors throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.