Spector, Roseman & Kodroff, P.C. Files Class Action Suit Against Citrix Systems, Inc

Business Wire, June 20, 2000

Business Editors/Legal Writers

PHILADELPHIA--(BUSINESS WIRE)--June 20, 2000

The following statement was issued today by the law firm of Spector, Roseman & Kodroff, P.C.:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of Florida on behalf of all persons who purchased the common stock of Citrix Systems, Inc. ("Citrix" or the "Company") (NASDAQ:CTXS) between October 18, 1999 and June 9, 2000, inclusive (the "Class Period").

The complaint charges defendants with violations of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges that the defendants issued materially false and misleading information concerning, among other things, the Company's financial and operating condition and the Company's prospects. Specifically, during the Class Period, defendants issued a series of public statements touting the Company's "record" financial results. After numerous repeated public announcements emphasizing the Company's success, Citrix stock soared to over $181 per share on February 10, 2000, and traded at well over $100 a share in March, 2000, after a two-for-one stock split on February 17, 2000. On June 12, 2000, Citrix took investors and analysts by surprise, announcing that the company's financial results for the second quarter of fiscal 2000 would be far from what investors had been led to believe due to, among other things, poor overall sales attributable to a market shift towards an electronic delivery of programs and upgrades, and particularly poor sales in its Asian market. In response, the price of Citrix common stock fell over 40% to $22 per share - - a far cry from the pre-split Class Period high of nearly $182 per share.

Plaintiffs seek to recover damages on behalf of all purchases of Citrix common stock during the Class Period (the "Class"). The plaintiffs are represented by the law firm of Spector, Roseman & Kodroff, P.C., among others, who have extensive experience in prosecuting investor class actions and financial fraud.

If you are a member of the Class described above, you may, no later than 60 days from June 14, 2000, 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 plaintiff's counsel Robert M. Roseman or Joshua H. Grabar toll-free at 888/844-5862 or via E-mail at classaction@spectorandroseman.com. For more detailed information about the firm please visit our website at http://www.spectorandroseman.com.