Business Services Industry
Scott & Scott LLC, Emershaw, Mushkat & Schneier File Shareholder Action Against Telxon
Business Wire, Dec 16, 1998
AKRON, Ohio--(BUSINESS WIRE)--Dec. 16, 1998--Scott & Scott, LLC Monday announced that it has filed a class action on behalf of all persons who purchased or otherwise acquired shares of Akron, Ohio based Telxon Corp. (NASD:TLXN) between July 13, 1998 and Dec. 11, 1998.
The law firm of Emershaw, Mushkat & Schneier, also of Akron, filed this complaint with Scott & Scott LLC.
The complaint alleges that Telxon and certain of its officers violated federal securities laws by issuing statements during the class period regarding the company's second quarter which were materially false and misleading thus artificially inflating the price of the stock and damaging the class period stock purchasers.
Upon its recent announcement that it had to restate its earnings due to improper recognition of revenue, the stock plunged.
Scott & Scott LLC is a Connecticut-based law firm engaged in the representation of both public and private companies in litigation and transactional work. The firm also has a boutique practice in antitrust, securities and other complex litigation, where it regularly represents individuals, companies and other entities.
Scott & Scott LLC prides itself on its ongoing dedication to client satisfaction and client communication. The firm has a nationwide practice with offices in Connecticut and Pennsylvania. Scott & Scott LLC regularly works with other firms on major litigation and it co-counsels with firms of only the highest quality and reputation so as to ensure the best representation for the class.
If you would like to discuss the matters above further with an attorney, please contact: Neil Rothstein Esq. of Scott & Scott LLC at 800/424-6690 or 215/875-5712. Or please e-mail at: NROTHSTEIN@SCOTT-SCOTT.COM.
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