ATLANTA , Oct. 13, 2003 (PRIMEZONE) -- The Law Firm of Holzer Holzer & Cannon, LLC announced today that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Check Point Software Technologies Ltd. ("Check Point" or the "Company") (Nasdaq:CHKP) publicly traded securities during the period between July 10, 2001 and April 4, 2002, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be obtained by e-mailing mfistel@holzerlaw.com.
The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. Throughout the Class Period, as alleged in the complaint, defendants issued numerous statements concerning Check Point's revenue growth, product and marketing initiatives, and increasing revenues and profits while failing to disclose that demand for the Company's products was materially declining. The complaint alleges that when this information was belatedly disclosed to the market on April 4, 2002, shares of Check Point fell over 24% on extremely heavy trading volume.
If you bought Check Point publicly traded securities between July 10, 2001 and April 4, 2002, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than October 28, 2003. Any member of the purported class may move the Court to serve as lead plaintiff through Holzer Holzer & Cannon, LLC or other counsel of their choice, or may choose to do nothing and remain an absent class member. If you would like to discuss this action, or if you have any questions concerning this Notice or your rights as a potential class member, you may call or write the attorneys below.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca