NEW YORK, March 7, 2001 (PRIMEZONE) -- A class action was commenced on behalf of all persons who purchased the common stock of Intershop Communications AG (Nasdaq:ISHP) in the period from May 2, 2000 to January 3, 2001.
The complaint alleges that the defendants (Intershop and certain of its officers) made material misrepresentations and omissions of material facts concerning the company's business performance during the relevant time. According to the complaint, throughout the relevant time period, defendants repeatedly assured investors that the company's United States operations were performing well and that the company was enjoying strong growth in the United States and that the company's shares were undervalued, among other things. At the same time, however, the complaint alleges that the defendants knew or recklessly disregarded that Intershop was falling dramatically below the company's publicly stated business plan and that significant shortfalls in the sales of its software in the United States undermined the Company's stated expectations at all relevant times.
Plaintiffs are represented by the law firm of Shalov Stone & Bonner, which has extensive experience in the prosecution of class actions on behalf of investors. For more information about Shalov Stone & Bonner, please visit the firm's website at: www.lawssb.com
If you would like to participate in this action or would like additional information about the lawsuit, please contact:
Shalov Stone & Bonner (Mark J. Nemetz, Legal Assistant) 276 Fifth Avenue Suite 704 New York, New York 10001, telephone: 212-686-8004 (Ext. 15) email: mark@lawssb.com
More information on this and other class actions can be found on the Class Action Newsline at http://www.primezone.com/ca