HOUSTON, July 11 (PRIMEZONE) -- The Emerson Firm, a securities class action trial law firm, announced today that a class action has been filed in the United States District Court for the Northern District of Texas, Dallas Division on behalf of purchasers of Perot Systems Corp. (NYSE:PER) ("Perot" or the "Company") publicly traded securities during the period between February 2, 1999 and June 7, 2002, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be obtained from the Firm.
The complaint charges Perot Systems Corp. 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 omitted to disclose crucial facts regarding risky business practices in which Perot Systems was engaged in order to try to obtain new consulting business and generate additional revenues.
The complaint further alleges that when Wall Street learned of these practices after California State Sen. Joseph Dunn unearthed a Perot Systems sales presentation mapping out strategies to exploit weaknesses and loopholes in the California power grid, Perot Systems' stock tumbled 19% on June 5, 2002 and an additional 11.3% to close at $12.90 on June 6, 2002, down from its class period high of $85.75.
If you bought Perot publicly traded securities between February 2, 1999 and June 7, 2002, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than August 12, 2002. If you are a member of this class, you can join this class action by contacting Ms. Tanya Autry at The Emerson Firm by calling toll-free 1-800-663-9817. Any member of the purported class may move the Court to serve as lead plaintiff through The Emerson Firm or other counsel of their choice.
The Emerson Firm has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Texas and 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 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