Schatz & Nobel, P.C. Announces Class Action Against ATI Technologies Inc.
20 8월 2005 - 3:33AM
PR Newswire (US)
HARTFORD, Conn., Aug. 19 /PRNewswire/ -- The law firm of Schatz
& Nobel, P.C., which has significant experience representing
investors in prosecuting claims of securities fraud, announces that
a lawsuit seeking class action status has been filed in the United
States District Court for the Eastern District of Pennsylvania on
behalf of all persons who purchased the common stock of ATI
Technologies Inc. (NASDAQ:ATYT) ("ATI") between October 7, 2004 and
June 23, 2005 (the "Class Period"). The Complaint alleges that ATI
violated federal securities laws. Specifically, the Complaint
alleges that, during the Class Period, ATI issued a series of
materially false and misleading statements regarding ATI's business
and prospects and concealed serious operations issues that would
have a material effect on its financial results. On June 6, 2005,
ATI warned that its revenue for the third quarter 2005 would fall
well below its previously announced forecast. On June 23, 2005, ATI
reported a quarterly loss of $445,000 compared to a profit of $48.6
million in the third quarter 2004 and further reduced fourth
quarter 2005 revenue expectations by $20-$50 million. If you are a
member of the class, you may, no later than October 17, 2005,
request that the Court appoint you as lead plaintiff of the class.
A lead plaintiff is a class member that acts on behalf of other
class members in directing the litigation. Although your ability to
share in any recovery is not affected by the decision whether or
not to seek appointment as a lead plaintiff, lead plaintiffs make
important decisions which could affect the overall recovery for
class members, including decisions concerning settlement. The
securities laws require the Court to consider the class member(s)
with the largest financial interest as presumptively the most
adequate lead plaintiff(s). While Schatz & Nobel has not filed
a lawsuit against the defendants, to view a copy of the Complaint
initiating the class action or for more information about the case,
class action cases in general, and your rights, please contact
Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at ,
or visit our website: http://www.snlaw.net/. CONTACT: Wayne T.
Boulton or Nancy A. Kulesa Tel.: (800) 797-5499 Website:
http://www.snlaw.net/ e-mail: DATASOURCE: Schatz & Nobel, P.C.
CONTACT: Wayne T. Boulton or Nancy A. Kulesa of Schatz & Nobel,
+1-800- 797-5499, Web site: http://www.snlaw.net/ x
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