BALA CYNWYD, Pa., Aug. 27, 2001 (PRIMEZONE) -- Schiffrin & Barroway, LLP announced today that it recently filed lawsuits on behalf of shareholders of Tickets.com, Inc., ON Semiconductor Corporation, Proton Energy Systems, Inc. and E.piphany, Inc. 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.
TICKETS.COM, INC. (Nasdaq:TIXX) (Class Period: 11/03/99 - 12/06/00). On or about Nov. 3, 1999, Tickets.com commenced an initial public offering of 6.7 million of its shares of common stock at an offering price of $12.50 per share (the "Tickets.com IPO"). In connection therewith, Tickets.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) Credit Suisse, Morgan Stanley and MSDW Online had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Credit Suisse, Morgan Stanley and MSDW Online allocated to those investors material portions of the restricted number of Tickets.com shares issued in connection with the Tickets.com IPO; and (ii) Credit Suisse, Morgan Stanley and MSDW Online had entered into agreements with customers whereby Credit Suisse, Morgan Stanley and MSDW Online agreed to allocate Tickets.com shares to those customers in the Tickets.com IPO in exchange for which the customers agreed to purchase additional Tickets.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 Sept. 3, 2001.
ON SEMICONDUCTOR CORPORATION (F/K/A SCG HOLDING CORPORATION) (Nasdaq:ONNN) (Class Period: 04/27/00 - 12/06/00). On or about April 27, 2000, ON Semiconductor commenced an initial public offering of 30 million of its shares of common stock at an offering price of $16 per share (the "ON Semiconductor IPO"). In connection therewith, ON Semiconductor 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) Morgan Stanley & Co., Incorporated ("Morgan Stanley"), Lehman Brothers, Inc. ("Lehman Brothers"), FleetBoston Robertson Stephens, Inc. ("Robertson Stephens") and Salomon Smith Barney, Inc. ("Smith Barney") had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Morgan Stanley, Lehman Brothers, Robertson Stephens and Smith Barney allocated to those investors material portions of the restricted number of ON Semiconductor shares issued in connection with the ON Semiconductor IPO; and (ii) Morgan Stanley, Lehman Brothers, Robertson Stephens and Smith Barney had entered into agreements with customers whereby Morgan Stanley, Lehman Brothers, Robertson Stephens and Smith Barney agreed to allocate ON Semiconductor shares to those customers in the ON Semiconductor IPO in exchange for which the customers agreed to purchase additional ON Semiconductor 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 Sept. 3, 2001.
PROTON ENERGY SYSTEMS, INC. (Nasdaq:PRTN) (Class Period: 09/28/99 - 12/06/00). On or about Sept. 28, 2000, Proton Energy commenced an initial public offering of 7 million of its shares of common stock at an offering price of $17 per share (the "Proton Energy IPO"). In connection therewith, Proton Energy 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) the Underwriter Defendants (Morgan Stanley & Co., Inc., Credit Suisse First Boston Corp., and Salomon Smith Barney, Inc.) 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 Proton Energy shares issued in connection with the Proton Energy IPO; and (ii) the Underwriter Defendants had entered into agreements with customers whereby the Underwriter Defendants agreed to allocate Proton Energy shares to those customers in the Proton Energy IPO in exchange for which the customers agreed to purchase additional Proton Energy 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 Sept. 3, 2001.
E.PIPHANY, INC. (Nasdaq:EPNY) (Class Period: 09/21/99 - 12/06/00). On or about Sept. 21, 1999, E.piphany commenced an initial public offering of 4,150,000 of its shares of common stock at an offering price of $16 per share (the "E.piphany IPO"). In connection therewith, E.piphany 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 E.piphany, Credit Suisse First Boston Corporation ("Credit Suisse"), Merrill Lynch, Pierce, Fenner & Smith, Incorporated ("Merrill"), BancBoston Robertson Stephens, Inc. ("Robertson Stephens") had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Credit Suisse, Merrill and Robertson Stephens allocated to those investors material portions of the restricted number of E.piphany shares issued in connection with the E.piphany IPO; and (ii) Credit Suisse, Merrill and Robertson Stephens had entered into agreements with customers whereby Credit Suisse, Merrill and Robertson Stephens agreed to allocate E.piphany shares to those customers in the E.piphany IPO in exchange for which the customers agreed to purchase additional E.piphany 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 Sept. 7, 2001.
Schiffrin & Barroway, LLP has prosecuted shareholder class actions for more than 14 years and has recovered more than $1 billion for investors. If you are a shareholder in any of the companies listed above and would like to be a lead plaintiff in one of these securities class actions, please contact Schiffrin & Barroway at (888) 299-7706.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca