BALA CYNWYD, Pa., Sept. 25, 2001 (PRIMEZONE) -- Schiffrin & Barroway, LLP announced today that it recently filed lawsuits on behalf of shareholders of Cybersource Corporation, Equinix, Inc., Netro Corporation and McAfee.com, Inc. for violations of the federal securities laws.
If you purchased the securities of any of the companies listed below during the class period, 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
CYBERSOURCE CORPORATION (Nasdaq:CYBS) (Class Period: 06/23/99 - 12/06/00). On or about June 23, 1999 Cybersource commenced an initial public offering of 4,000,000 of its shares of common stock at an offering price of $11 per share (the "Cybersource IPO"). In connection therewith, Cybersource 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) Merrill Lynch, Robertson Stephens and Goldman Sachs had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Merrill Lynch, Robertson Stephens and Goldman Sachs allocated to those investors material portions of the restricted number of Cybersource shares issued in connection with the Cybersource IPO; and (ii) Merrill Lynch, Robertson Stephens and Goldman Sachs had entered into agreements with customers whereby Merrill Lynch, Robertson Stephens and Goldman Sachs agreed to allocate Cybersource shares to those customers in the Cybersource IPO in exchange for which the customers agreed to purchase additional Cybersource 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 September 28, 2001.
EQUINIX, INC. (Nasdaq:EQIX) (Class Period: 08/10/00 - 12/06/00). On or about August 10, 2000, Equinix commenced an initial public offering of 20,000,000 of its shares of common stock at an offering price of $12 per share (the "Equinix IPO"). In connection therewith, Equinix 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) Goldman Sachs, Smith Barney and Lehman had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Goldman Sachs, Smith Barney and Lehman allocated to those investors material portions of the restricted number of Equinix shares issued in connection with the Equinix IPO; and (ii) Goldman Sachs, Smith Barney and Lehman had entered into agreements with customers whereby Goldman Sachs, Smith Barney and Lehman agreed to allocate Equinix shares to those customers in the Equinix IPO in exchange for which the customers agreed to purchase additional Equinix 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 September 28, 2001.
NETRO CORPORATION (Nasdaq:NTRO) (Class Period: 08/18/99 - 12/06/00). On or about August 18, 1999, Netro commenced an initial public offering of 5,000,000 of its shares of common stock at an offering price of $8 per share (the "Netro IPO"). In connection therewith, Netro 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 had solicited and received excessive and undisclosed commissions from certain investors in exchange for which defendants allocated to those investors material portions of the restricted number of Netro shares issued in connection with the Netro IPO; and (ii) defendants had entered into agreements with customers whereby defendants agreed to allocate Netro shares to those customers in the Netro IPO in exchange for which the customers agreed to purchase additional Netro 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 October 1, 2001.
MCAFEE.COM CORP. (Nasdaq:MCAF) (Class Period: 12/01/99 - 12/06/00). On or about December 1, 1999, McAfee commenced an initial public offering of 6,250,000 of its shares of common stock at an offering price of $12 per share (the "McAfee IPO"). In connection therewith, McAfee 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 had solicited and received excessive and undisclosed commissions from certain investors in exchange for which defendants allocated to those investors material portions of the restricted number of McAfee shares issued in connection with the McAfee IPO; and (ii) defendants had entered into agreements with customers whereby defendants agreed to allocate McAfee shares to those customers in the McAfee IPO in exchange for which the customers agreed to purchase additional McAfee 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 October 1, 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