SAN FRANCISCO, Nov. 12 /PRNewswire/ -- The following is being issued by
Gold Bennett & Cera LLP:
Gold Bennett & Cera LLP has filed a class action complaint in the United
States District Court for the Central District of California, Case No.
CV-99-11672-R (CTx), on behalf of all former Broderbund Software, Inc.
("Broderbund") shareholders who acquired shares of The Learning Company
("TLC") common stock in connection with the TLC-Broderbund merger on
August 31, 1998 (the "Merger"). The complaint alleges that defendants violated
Sections 11, 12(2) and 15 of the Securities Act of 1933, 15 U.S.C. Sections
77k, 77l(a)(2) and 77o. Mattel, Inc. (NYSE: MAT), which acquired TLC earlier
this year, is named as a defendant in the lawsuit. The complaint also names
TLC's directors at the time of the Merger.
The plaintiffs acquired shares of TLC common stock in the Merger and are
seeking to recover damages on behalf of themselves and the class. Plaintiffs
are represented by the San Francisco law firm of Gold Bennett & Cera LLP. For
over 30 years, Gold Bennett & Cera LLP and its predecessors have successfully
engaged in commercial litigation, including shareholder, consumer and
antitrust class actions, in federal and state courts throughout the United
States, recovering hundreds of millions of dollars for its clients.
The complaint alleges that the Registration Statement and Joint Proxy
Statement and Prospectus dated July 14, 1998, issued by TLC and signed by
TLC's directors, contained materially false or misleading statements
regarding, among other things, TLC's revenue, net income and earnings per
share. Specifically, the complaint alleges that TLC improperly recognized
revenue on sales where it had granted the right to return unsold merchandise,
that TLC delayed timely recording product returns from its customers, and that
TLC billed customers or charged customer credit cards for software products
that it knew, or should have known, was unavailable.
If you received TLC common stock in exchange for Broderbund common stock
on or after August 31, 1998, you may no later than 60 days from today move the
Court to serve as lead plaintiff, if you so choose. To serve as lead
plaintiff, however, you must meet certain legal requirements. If you wish to
discuss this action or have any questions concerning this notice or your
rights or interests, please contact Joseph M. Barton of Gold Bennett & Cera
LLP, 595 Market Street, Suite 2300, San Francisco, California 94105, by
telephone at 800-778-1822 or 415-777-2230, by facsimile at 415-777-5189 or by
e-mail at firstname.lastname@example.org.
SOURCE Gold Bennett & Cera LLP