VA Linux Systems Sued for Securities Fraud According to Schiffrin & Barroway, LLP

Jan 17, 2001, 00:00 ET from Schiffrin & Barroway, LLP

    BALA CYNWYD, Pa., Jan. 17 /PRNewswire/ -- The following statement was
 issued today by the law firm of Schiffrin & Barroway, LLP:
     Notice is hereby given that a class action lawsuit was filed in the United
 States District Court for the Southern District of New York on behalf of all
 purchasers of the common stock of VA Linux Systems, Inc. (Nasdaq:   LNUX) from
 December 9, 1999 through December 6, 2000, inclusive (the "Class Period").
     If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests with respect to these matters, please
 contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Robert B. Weiser,
 Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at
     The complaint alleges violations of the federal securities laws.  On
 December 9, 1999, VA Linux completed the initial public offering ("IPO") of
 its common stock.  In connection with the VA Linux IPO, the Company filed a
 registration statement and prospectus (the "Offering Documents").  The
 complaint alleges that the Offering Documents were materially false and
 misleading, because, among other reasons, the Company's underwriters had
 received undisclosed commissions from certain investors with the understanding
 that they would receive large blocks of shares in VA Linux's IPO.
     Plaintiff seeks to recover damages on behalf of class members and is
 represented by the law firm of Schiffrin & Barroway, LLP, who has significant
 experience and expertise prosecuting class actions on behalf of investors and
 shareholders.  For more information on Schiffrin & Barroway, please visit
     If you are a member of the class described above, you may, not later than
 March 12, 2001, 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.
     CONTACT:  Schiffrin & Barroway, LLP
     Marc A. Topaz, Esq.
     Robert B. Weiser, Esq.
     Three Bala Plaza East, Suite 400, Bala Cynwyd, PA  19004
     1-888-299-7706 (toll free) or 1-610-667-7706
     Or by e-mail at

SOURCE Schiffrin & Barroway, LLP