Class Action Lawsuit News

mysan.de - be updated - Chimicles & Tikellis LLP Announces Class Action Lawsuit Against Xybernaut Corporation, and Certain of Its Officers and Directo

mysan.de - be updated - Chimicles & Tikellis LLP Announces Class Action Lawsuit Against Xybernaut Corporation, and Certain of Its Officers and Directors: "WILMINGTON, Del., May 6 /PRNewswire/ -- The law firm of Chimicles & Tikellis LLP announces that a securities class action lawsuit was commenced on May 2, 2005, in the United States District Court for the District of Delaware (Civil Action No. 05-cv-256) against Xybernaut Corporation ('Xybernaut'). The action was brought on behalf of all persons (the 'Class') who purchased shares in Xybernaut between March 27, 2003, and April 19, 2005, inclusive (the 'Class Period').

Within sixty days from the first publication of notice dated April 15, 2005, any member of the Class may move the Court to serve as lead plaintiff. If you would like to consider serving as a lead plaintiff or have any questions about this class action, or your rights or interests, please contact plaintiff’s counsel Pamela S. Tikellis or Robert Davis toll-free at 866-399-2487 or via e-mail at pamelatikellis@chimicles.com or robertdavis@chimicles.com. For more detailed information about Chimicles & Tikellis LLP, please visit its website at http://www.chimicles.com/. Any member of the Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The Complaint charges Xybernaut, Edward G. Newman, Steven A. Newman, M.D., and Thomas D. Davis with violations of the federal securities laws, specifically sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. The Complaint alleges that defendants have issued materially misleading statements to the market during the class period." (Full article at link)

posted by Monkeyman @ 12:33 AM