NEW YORK, March 16, 2002 (PRIMEZONE) -- Bull & Lifshitz, LLP announced that a class action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Lumenis Ltd. (Nasdaq:LUME) ("Lumenis" or the "Company") common stock during the period between January 7, 2002 through February 28, 2002, inclusive (the "Class Period").
The complaint charges Lumenis and certain of its officers and directors with violations of the federal securities laws by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of the Company's securities.
On February 28, 2002, Lumenis revealed the facts concerning the SEC investigation in a conference call. These shocking revelations caused the stock to plummet 30% in one day and more than 69% from its Class Period high, resulting in damages to plaintiff and members of the class.
If you bought Lumenis common stock between January 7, 2002 through February 28, 2002 inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than May 10, 2002. If you seek to join this class action, receive an information package, discuss this action, any other potential action or have any questions concerning this notice, your rights or interests with respect to this matter, please visit our website at http://www.nyclasslaw.com/infopackage.html or contact Peter D. Bull, Esq. or Joshua M. Lifshitz, Esq. by email at counsel@nyclasslaw.com. Bull & Lifshitz, LLP has extensive experience in prosecuting investor class actions. For more information regarding Bull & Lifshitz, LLP, please view our website at http://www.nyclasslaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.