Business Services Industry

Kaplan, Kilsheimer Extend Class Period for Class Action Suit Against Network Associates and Announces Shareholder Class Action Suits Against FVC.COM, McKesson HBOC, Party City, and PSS World Medical

Business Wire, May 6, 1999

NEW YORK--(BUSINESS WIRE)--May 6, 1999--

The following was released today by Kaplan, Kilsheimer, Fox LLP.

Kaplan, Kilsheimer & Fox LLP has extended the Class Period for the Class Action law suit against Network Associates, Inc. (NASDAQ: NETA).

The suit is brought on behalf of all persons or entities who purchased or acquired shares of Network Associates between January 1, 1998 - April 19, 1999 (the "Class Period") . If you are a member of the Class, you may move the court no later that June 6, 1999. The complaint alleges that defendants issued numerous false statements about Network Associates, its financial results and its business prospects which artificially inflated earnings.

Kaplan, Kilsheimer has also filed Class Action lawsuits against the following companies at the request of shareholders who purchased during these class periods. If you are a purchaser of the following securities during the stated time periods, you should contact us to learn more about these cases and about your rights as an investor.

FVC.COM, INC. (NASDAQ: FVCX): 01/21/99 - 04/06/99: The complaint alleges that FVC.com knowingly or recklessly overstated the Company's results for the fourth quarter of 1998 by engaging in improper accounting practices in violation of generally accepted accounting practices ("GAAP"). The complaint further alleges that certain defendants used their inside knowledge to take advantage of the Company's inflated share price by selling 535,000 of their own shares for gross proceeds of over $7.3 million. Upon the announcement that results for the fourth quarter would be far below expectations, FVC.com common stock plunged 59% on eight time average volume.

MCKESSON HBOC, INC. (NYSE: MCK): McKesson Corp. 10/18/98 - 01/12/99 or HBO & Company 04/14/98 - 01/12/99: The Complaint alleges that defendants engaged in a scheme, common enterprise or common course of conduct to artificially inflate and/or maintain the price of McKesson's stock by issuing materially false and misleading statements, reports and press releases to the public regarding the Company's business, its investment portfolios, operations and future prospects. These statements and documents portrayed a false picture of the Company's business and operations and misrepresented and/or failed to disclose material, adverse facts concerning McKesson's investment portfolios, business, revenues, earnings, management, financial condition and future prospects.

PARTY CITY CORP. (NASDAQ: PCTY) : 07/9/98 - 03/18/99: The Complaint alleges that defendants issued a series of false statements and failed to disclose material facts throughout the Class period causing Party City's common stock to trade at artificially inflated prices. Certain defendants sold 98,000 shares of common stock. Over $1.5 million in proceeds was realized as a result of these sales.

PSS WORLD MEDICAL (NASDAQ: PSSI) 06/16/98 - 03/10/99: The Complaint alleges that the price of PSS stock was artificially inflated as a result of defendants' conduct, which included but was not limited to, engaging in aggressive and improper accounting practices.

To ensure that you will be included in a list of class members, or if you would like additional information about these cases, or have questions about this Notice, or your rights, please contact:

Frederic S. Fox, Esq. Brigid T. Kavanaugh, Esq. Adrienne L. Valencia, Esq. Donald R. Hall, Esq. Kaplan, Kilsheimer & Fox LLP (800) 290-1952 (212) 687-1980 E-mail address:Lawkkf@aol.com Fax: 212/687-7714 685 Third Avenue--26th Floor New York, NY 10017

COPYRIGHT 1999 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

 

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