LITTLE ROCK, Ark., March 11, 2003 (PRIMEZONE) -- The securities class action trial law firm, Emerson Poynter LLP, announced today that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Atmel Corporation ("Atmel" or the "Company") (Nasdaq:ATML) publicly traded securities during the period between January 20, 2000 and July 31, 2002, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be obtained by making a toll-free call to the Firm..
The complaint charges Atmel Corporation and certain of its officers and directors with issuing false and misleading statements concerning its business and financial condition. Specifically, the complaint alleges that defendants caused Atmel's shares to trade at artificially inflated levels through the issuance of false and misleading financial statements, while concealing that Atmel was selling defective chips to its customers which would lead to product recalls, repairs and loss of customer relationships. On July 31, 2002, media reports indicated that the Company had been sued by a major customer, Seagate Technology Inc., for selling defective chips which led to defects in millions of disk drives. On this news, the Company's stock price declined to $2.96.
If you bought Atmel publicly traded securities between January 20, 2000 and July 31, 2002, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than April 8, 2003. If you are a member of this class, you can join this class action by contacting the Firm by e-mail or calling toll-free. Any member of the purported class may move the Court to serve as lead plaintiff through Emerson Poynter LLP or other counsel of their choice.
Emerson Poynter has substantial experience representing investors in securities fraud class action lawsuits such as this. The Firm has offices in Houston, Texas and Little Rock, Arkansas, but represents investors throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call toll free or e-mail the Firm.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.