LITTLE ROCK, Ark., May 25, 2001 (PRIMEZONE) -- The Law Firm of Cauley Geller Bowman & Coates, LLP announced today that a class action has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Versata, Inc. ("Versata" or the "Company") (Nasdaq:VATA) securities during the period between March 2, 2000 and March 29, 2001, inclusive, including those who acquired their shares in connection with the Company's initial Public Offering on March 2, 2000 (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's Website at http://www.classlawyer.com/pr/Versata.pdf.
The complaint charges Versata and certain of its officers and directors with issuing false and misleading information regarding its business and financial condition, reporting favorable but false financial results causing its stock to trade at artificially inflated levels. Specifically, the complaint alleges that defendants announced on March 29, 20001, that its reported financial statements were under investigation, causing Versata's shares to plummet 99% lower than its Class Period high of $100-15/16.
If you bought the securities of Versata between March 2, 2000 and March 29, 2001, inclusive, you may, no later than June 10, 2001 request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Cauley Geller Bowman & Coates, LLP, or other counsel of your choice, to serve as your counsel in this action. If you are a member of this class, you can join this class action online at http://www.classlawyer.com/sign_up.html.
Cauley Geller Bowman & Coates, LLP has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Florida, Arkansas and California, but represents shareholders from 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 or e-mail the Firm or visit the Firm's Website at www.classlawyer.com.
CAULEY GELLER BOWMAN & COATES, LLP Client Relations Department: Sue Null, Charlie Gastineau or Jackie Addison P.O. Box 25438 Little Rock, AR 72221-5438 Toll Free: 1-888-551-9944 E-mail: info@classlawyer.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca