WASHINGTON, July 31 (PRIMEZONE) -- The Law Office of Mark McNair today announced that a class action lawsuit has been filed on behalf of purchasers of HPL Technologies, Inc. (Nasdaq:HPLAE) common stock between July 31, 2001 through July 18, 2002 (the "Class Period").
The lawsuit, filed in the United States District Court for the Northern District of California, charges HPL and its former Chief Executive Officer, Y. David Lepejian, and former Chief Financial Officer, Ita Geva, with engaging in a massive accounting fraud involving fictitious transactions and falsified documents in order to inflate HPL's revenues and earnings.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the Class, you may move the court no later than September 23, 2002 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice.
If you were a purchaser of shares of the stock listed above during the period indicated and want to discuss your legal rights, you may e-mail or call the Law Office Of Mark McNair who will, without obligation or cost to you, attempt to answer your questions. You may contact the Law Office Of Mark McNair at 1101 30th St. NW, Suite 500, Washington, DC 20007, by calling toll-free 877.511.4717 or 202.872.4717 or by e-mailing mcnair@justice4investors.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca