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Schiffrin & Barroway, LLP Announces Class Periods For Shareholder Lawsuits

Market Wire, 20050229

Schiffrin & Barroway, LLP announced today that it recently filed lawsuits on behalf of shareholders of SciQuest.com, Inc., NETsilicon, Inc., Nuance Communications, Inc. and Talarian Corporation for violations of the federal securities laws.

If you purchased the securities of any of the companies listed below during the respective class periods, you may be a member of the class and have until the date specified to move the court to become the lead plaintiff. For more information on a particular lawsuit and to view the complaint, you may visit our website at www.sbclasslaw.com. To learn more about your rights and interests in these cases and your ability to potentially recoup your losses, please contact Schiffrin & Barroway directly at 888-299-7706 (toll free) or 610-667-7706, fax number 610-667-7056 or by e-mail at info@sbclasslaw.com.

SCIQUEST.COM, INC. (Nasdaq: SQST) (Class Period: 11/19/99 - 12/06/00). On or about November 19, 1999 SciQuest.com commenced an initial public offering of 7,500,000 of its shares of common stock at an offering price of $16 per share (the "SciQuest.com IPO"). In connection therewith, SciQuest.com filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) defendants had solicited and received excessive and undisclosed commissions from certain investors in exchange for which defendants allocated to those investors material portions of the restricted number of SciQuest.com shares issued in connection with the SciQuest.com IPO; and (ii) defendants had entered into agreements with customers whereby defendants agreed to allocate SciQuest.com shares to those customers in the SciQuest.com IPO in exchange for which the customers agreed to purchase additional SciQuest.com shares in the aftermarket at pre-determined prices. As alleged in the complaint, the SEC is investigating underwriting practices in connection with several other initial public offerings. The complaint was filed in the U.S. District Court for the Southern District of New York. The lead plaintiff motion must be filed no later than October 8, 2001.

NETSILICON, INC. (Nasdaq: NSIL) (Class Period: 09/15/99 - 12/06/00). On or about September 15, 1999 NETsilicon commenced an initial public offering of 5,250,000 of its shares of common stock at an offering price of $7.00 per share (the "NETsilicon IPO"). In connection therewith, NETsilicon filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i)CIBC World Markets Corp. and U.S. Bancorp Piper Jaffray, Inc. (the "Underwriter Defendants") had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriter Defendants allocated to those investors material portions of the restricted number of NETsilicon shares issued in connection with the NETsilicon IPO; and (ii) the Underwriter Defendants had entered into agreements with customers whereby the Underwriter Defendants agreed to allocate NETsilicon shares to those customers in the NETsilicon IPO in exchange for which the customers agreed to purchase additional NETsilicon shares in the aftermarket at pre-determined prices. The complaint was filed in the U.S. District Court for the Southern District of New York. The lead plaintiff motion must be filed no later than October 8, 2001.

NUANCE COMMUNICATIONS, INC. (Nasdaq: NUAN) (Class Period: 04/12/00 - 12/06/00). On or about April 12, 2000, Nuance commenced an initial public offering of 4,500,000 of its shares of common stock at an offering price of $17 per share (the "Nuance IPO"). In connection therewith, Nuance filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) Goldman Sachs and Merrill Lynch had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Goldman Sachs and Merrill Lynch allocated to those investors material portions of the restricted number of Nuance shares issued in connection with the Nuance IPO; and (ii) Goldman Sachs and Merrill Lynch had entered into agreements with customers whereby Goldman Sachs and Merrill Lynch agreed to allocate Nuance shares to those customers in the Nuance IPO in exchange for which the customers agreed to purchase additional Nuance shares in the aftermarket at pre-determined prices. As alleged in the complaint, the SEC is investigating underwriting practices in connection with several other initial public offerings. The complaint was filed in the U.S. District Court for the Southern District of New York. The lead plaintiff motion must be filed no later than October 8, 2001.

 

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