NEW YORK, Feb. 9, 2004 (PRIMEZONE) -- Notice is hereby given that a securities lawsuit was filed on behalf of shareholders of Micromuse, Inc., ("Micromuse" or the "Company")(Nasdaq:MUSEE).
For an information package (www.nyclasslaw.com/infopackage.html) or if you wish to discuss this action, or have any questions concerning this notice of your rights or interests with respect to this matter, please contact Peter D. Bull, Esq. or Joshua M. Lifshitz, Esq., Bull & Lifshitz, LLP via telephone at (212) 213-6222, via fax at (212) 213-9405 or by email at counsel@nyclasslaw.com
If you would like to join the action please sign the Certification, as provided on our website at www.nyclasslaw.com/join.html.
The Complaint alleges that defendants breached their fiduciary duties, by issuing a series of material misrepresentations to the market, thereby artificially inflating the price of Micromuse securities. Among other things, plaintiffs claim that defendants' dissemination of materially false and misleading statements concerning Micromuse's financial performance caused the Company's stock price to become artificially inflated, inflicting damages on investors. Micromuse develops, markets and supports a family of scalable software solutions that enable the effective monitoring of the status of multiple devices and elements underlying an information technology service delivery infrastructure. The Complaint alleges that defendants caused Micromuse to report in its public filings, press releases and other public statements favorable financial results by misrepresenting the Company's financial performance. Plaintiffs claim these statements were materially false and misleading because they failed to disclose and/or misrepresented the following adverse facts, among others: (i) that the Company had improperly accounted for the timing of certain accrued expenses and the recognition of certain other expenses; (ii) that the Company lacked adequate internal controls and was therefore unable to ascertain the true financial condition of the Company; and (iii) that as a result, the values of the Company's net income and financial results were materially overstated at all relevant times.
Plaintiff seeks to recover damages from defendants. Plaintiff is represented in this shareholder action by the law firm of Bull & Lifshitz, LLP. Bull & Lifshitz, LLP has extensive experience in litigating investor class and derivative actions. For more information regarding Bull & Lifshitz, LLP, please view our website at www.nyclasslaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca