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The complaint alleges that the foregoing misstatements and omissions of material facts in violation of the federal securities laws had the effect of artificially inflating Global Crossing's share price.
Our complaint alleges that Art Technology, and certain of its officers and directors, violated federal securities laws by issuing materially false and misleading statements during the Class Period that had the effect of artificially inflating the market price of the Company's securities.
The complaint charges that defendants violated Sections 10 (b) and 20 (a) of the Securities and Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of materially false and misleading statements to the market during the class period concerning its supposedly strong and growing sales thereby artificially inflating the value of the Company's stock price.
Specifically, the complaint will allege that FreeMarkets improperly recorded revenues from a large client in the second, third and fourth quarters of 2000, thereby inflating the company's actual revenues, earnings and stock price.
We have been saying for years that nitrogen tire inflation slows that process by removing the oxygen from the inflating medium.
In order to inflate the price of PacifiCare's stock, defendants caused the Company to falsely report its results for Q3 1999, Q4 1999, Q1 2000 and Q2 2000 by misstating its results through its deliberate under-accrual of medical expenses and its reserves for doubtful accounts receivable, all of which resulted in artificially inflating PacifiCare's earnings per share ("EPS").
58, which statements had the effect of artificially inflating the price of Pinnacle stock to a Class Period high of $30-5/8.
The complaint alleges that during the Class Period, defendants misrepresented the Company's liquidation value and financial condition by making false and misleading statements inflating the proceeds from the sale of its component businesses.