Class Action Suit Filed Against Network Computing Devices and its Officers and Directors Alleging Misrepresentations, False Financial Statements and Insider Trading

Business Wire, April 23, 1996

SAN DIEGO--(BUSINESS WIRE)--April 23, 1996--A class action has been commenced in the United States District Court for the Northern District of California by plaintiffs Richard Curley, Edward Glickstein, Sidney B. Nudelman, David C. Hume and Patricia C. Hume, John Wheeler, Gilbert Dunaway, David M. Combs, John Robert Biggins, James H. Jackson, Robert A. Muse, Charlotte A. Burlas, Rudolph Sanetta, Carl D. Burlas, Frances M. Leombruno, Bernt Anderson, Michael K. Lambright, Clyde W. Caughey, Juanita Lorah, Steven R. Sloan, Frank Kowalski, Bruce L. Hull, Thomas Cantola, James Paul Stewart, Kyle Richards and James A. Sampson on behalf of purchasers of Network Computing Devices, Inc. ("Network") common stock during the period February 2, 1995 to March 21, 1996.

The complaint charges Network and certain of its officers and directors with violations of the Federal Securities Laws by making misrepresentations about Network's business, earnings growth and financial statements and its ability to continue to achieve profitable growth. By issuing these allegedly false and misleading statements, defendants artificially inflated Network's stock price from $4 on January 31, 1995 to a Class Period high of $12 in August 1995, allowing Network's top insiders to sell or otherwise distribute 1,981,774 shares of their Network stock at as high as $9-5/8 per share, for $15.3 million, before the true facts about Network's troubled operations, diminished profitability, false financial statements and failed new product development efforts were revealed and Network's stock collapsed to as low as $2-31/32 per share. Plaintiffs who have sued seek to recover damages on behalf of all purchasers of Network common stock during the Class Period (the "Class"). They are represented by several law firms, including Milberg Weiss Bershad Hynes & Lerach LLP, who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Milberg Weiss has been actively engaged in commercial litigation, emphasizing securities and antitrust class actions, for more than 20 years. The firm has offices in New York, San Diego, San Francisco and Los Angeles and is active in major litigations pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to major positions in complex multi-district or consolidated litigations. Milberg Weiss has taken a lead role in numerous important actions on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion.

If you are a member of the Class described above, you may, no later than 60 days from today, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs' counsel, William Lerach or Alan Schulman of Milberg Weiss at 619/231-1058.

CONTACT: Milberg Weiss

William Lerach or Alan Schulman, 619/231-1058