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Topic: (NASDAQ:OMGA) ,
Headline: Omega Research (NASDAQ:OMGA) named in lawsuit
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BALA CYNWYD, Pa., Jan 28 (Reuters) - Omega Research Inc and
certain officers and directors were named in a proposed class
action lawsuit filed Wednesday in the U.S. District Court in
the Southern District of Florida, said attorney Andrew Barroway
of the plaintiff's law firm.
In a press release, the law firm said the complaint alleges
the prospectus included material misrepresentations concerning
the company's true financial condition at the time of the
offering.
In addition the complaint alleges the prospectus did not
properly disclose the true beneficiaries of a $15 million
dividend paid from the proceeds of the offering.
The proposed class includes all persons who purchased or
acquired Omega common stock in its initial public offering on
October 4 or at any time between the offering and January 6,
1998.
Ralph Cruz, chief executive of Omega, said the company was
not yet aware of the lawsuit.
The plaintiff, who was not named in the press release,
seeks to recover damages on behalf of class members.
Plaintiff is represented by the law firms of Schiffrin
Craig & Barroway LLP, Shalov, Stone & Bonner, and Burt &
Pucillo LLP.
Copyright 1998, Reuters News Service
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Topic: (NASDAQ:OMGA) ,
Headline: Class Action Filed Against Omega Research
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BALA CYNWYD, Pa.--(BUSINESS WIRE)--Jan. 28, 1998--Notice is
hereby given that on Jan. 28, 1998, a class action lawsuit was filed
in the United States District Court, Southern District of Florida on
behalf of all persons who purchased or otherwise acquired the common
stock of Omega Research Inc. ("Omega" or the "Company"), in the
Company's initial public offering on Oct. 4, 1997 (the "Offering")
or at any time between the Offering and Jan. 6, 1998.
The complaint charges Omega (NASDAQ:OMGA), certain officers and
directors of the Company and certain underwriters during the relevant
time period with violations of Sections 11 and 15 of the Securities
Act of 1933.
The complaint alleges that the Prospectus for the Offering
included material misrepresentations and omissions concerning the
Company's true financial condition at the time of the Offering in
light of the Company's ongoing trend of declining sales of its
TradeStation software and that the Prospectus did not properly
disclose the true beneficiaries of a $15 million dividend paid from
the proceeds of the Offering.
Plaintiff seeks to recover damages on behalf of class members and
is represented by the law firms of Schiffrin Craig & Barroway, LLP,
Shalov, Stone & Bonner, and Burt & Pucillo, LLP, who have significant
experience and expertise prosecuting class actions on behalf of
investors and shareholders.
If you are a member of the class described above, you may, not
later than sixty days from the date of this notice, move the Court to
serve as lead plaintiff of the class, if you so choose. In order to
serve as lead plaintiff, however, you must meet certain legal
requirements.
If you wish to discuss this action or have questions concerning
this notice or your rights or interests with respect to these
matters, please contact Schiffrin Craig & Barroway, LLP (Andrew L.
Barroway, Esq.), toll free at 1-888-299-7706 or 610/667-7706 or via
e-mail at classlaw@xxxxxxxxxxxxxx, Shalov, Stone & Bonner (Ralph M.
Stone), at 212/268-2727, or Burt & Pucillo, LLP, (Wendy H. Zoberman,
Esq.) toll free at 1-800-349-4612 or 561/835-9400.
CONTACT: Schiffrin Craig & Barroway, LLP
Andrew L. Barroway, Esq., 1-888-299-7706 (toll free) or
610/667-7706
Or by e-mail at classlaw@xxxxxxxxxxxxx
KEYWORD: PENNSYLVANIA FLORIDA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
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Copyright 1998, Business Wire
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