Business Services Industry
Class Action Filed Against Rambus, Inc. On Behalf Of Shareholders Who Purchased Stock between January 18, 2000 to May 9, 2001 by the Law Firm of Stull, Stull & Brody
Business Wire, August 21, 2001
Business Editors & Legal Writers
LOS ANGELES--(BUSINESS WIRE)--Aug. 21, 2001
A class action lawsuit was filed in United States District Court for the Northern District of California, on behalf of purchasers of Rambus, Inc. ("Rambus" or the "Company") (NASDAQ:RMBS), common stock between January 18, 2000 to May 9, 2001, inclusive (the "Class Period").
You may obtain a copy of the complaint from the Court or from Stull, Stull & Brody.
The complaint alleges that Nuance and certain of its officers and directors violated the Securities Exchange Act of 1934. Specifically, Rambus falsely promoted its patents and technologies relating to SDRAM chips and collected millions of dollars in royalties from the licensing of the SDRAM technology to other companies.
The complaint alleges that the Company had fraudulently obtained its SDRAM patents and therefore the SDRAM patents were unenforceable and not a legitimate source of revenue. It was only after defendants sold or otherwise disposed of their privately held stock that, on May 9, 2001, investors learned the truth about Rambus, when a jury in a patent infringement suit filed by Rambus against one of its competitors, Infineon Technologies, AG, determined that Rambus' SDRAM patents had been obtained by fraud. By the end of the Class Period, when the full extent of Rambus' fraudulent activity was discovered, Rambus' shares had declined to about $10 per share, causing investors millions of dollars in damages.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Stull, Stull & Brody who has significant experience and expertise in prosecuting class actions on behalf of investors and shareholders.
If you are a member of the class described above, you may, no later than October 9, 2001, move the Court to serve as lead plaintiff, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of the other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to this matter, please contact: Marc L. Godino of Stull, Stull & Brody at 888-388-4605 or via e-mail at mgodino@secfraud.com or on the law firm's web-site at www.secfraud.com.
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