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Topic: (NASDAQ:OMGA) , (NASDAQ:DBCC) Data Broadcasting, (NASDAQ:DTLN) Data
Transmission Network, (AMEX:PQT) PC Quote Inc,
Headline: Omega Research Announces Dismissal of All Claims in Class Action
Securities Lawsuit
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MIAMI--(BUSINESS WIRE)--March 2, 1999--Omega Research, Inc.
(NASDAQ:OMGA) announced today the dismissal of the class action
securities lawsuit filed against it January 28, 1998 in federal
district court in Miami.
Most of the claims in the suit, styled RICHARD M. RHODES,
individually and on behalf of all others similarly situated,
Plaintiffs, vs. WILLIAM R. CRUZ; RALPH L. CRUZ; OMEGA RESEARCH, INC.;
BANCBOSTON ROBERTSON STEPHENS; LEHMAN BROTHERS; and HAMBRECHT & QUIST,
Defendants, Case No. 98-0174-CIV-LENARD, were dismissed with
prejudice. The plaintiffs have ten days from the date of the order to
replead, in accordance with the requirements stated in the court's
order and applicable law, the claims in the suit that were dismissed
without prejudice.
Marc J. Stone, Vice President of Corporate Development and
General Counsel, commented, "We are pleased with the court's order
dismissing this action, which we have maintained from the beginning
was without merit, and we will vigorously oppose any effort by the
plaintiffs to replead any of the claims or issues that were dismissed
without prejudice."
Founded in 1982, and headquartered in Miami, Florida, Omega
Research, Inc. is a leading provider of real-time investment analysis
software for the Windows operating system. With the 1991 release of
its flagship product, TradeStation(R), the Company pioneered the
concept of utilizing the power of the personal computer to enable
investors to historically test the profitability of their own
investment strategies and then computer-automate those strategies to
generate real-time buy and sell signals. Omega Research's other
principal products are OptionStation(R), RadarScreen(tm), Omega
Research ProSuite(tm) and SuperCharts(R). The current shipping
versions of such products are TradeStation 2000i, OptionStation 2000i,
RadarScreen 2000i, Omega Research ProSuite 2000i and SuperCharts 4.
Omega Research's 2000i line of software products is compatible
with the following real-time Internet and broadcast data services:
Data Broadcasting Corporation's (NASDAQ:DBCC) Signal Online
(Internet), StockEdge Online (Internet), InSite (Internet), DBC Signal
(Broadcast) and BMI (Broadcast); Data Transmission Network
Corporation's (NASDAQ:DTLN) DTN Real Time and DTNstant (Broadcast);
and PC Quote, Inc.'s (AMEX:PQT) Hyperfeed(tm) (Internet and
Broadcast). Agreements are also in place to add, later this year, as
compatible real-time data services, FutureSource Information Systems,
Inc.'s MDS network and stand-alone datafeeds, and Standard & Poor's
ComStock's Xpressfeed(tm).
Visit the Omega Research web site at www.omegaresearch.com.
CONTACT: Omega Research, Inc., Miami
Salomon Sredni, Vice President of Operations
and Chief Financial Officer
305/485-7000
KEYWORD: FLORIDA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET
Copyright 1999, Business Wire
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