California Amplifier Charged by Wolf Popper LLP With Violations of The Federal Securities Laws

Apr 05, 2001, 01:00 ET from Wolf Popper LLP

    NEW YORK, April 5 /PRNewswire/ --
 California Amplifier, Inc. (Nasdaq:   CAMP) and certain of its senior officers
 have been charged with violations of the United States securities laws by a
 client of Wolf Popper LLP, in a class action lawsuit brought in the United
 States District Court for the Central District of California.  The lawsuit was
 brought on behalf of all persons who purchased Maxim common stock on the open
 market during a period beginning on April 7, 2000 through March 28, 2001,
 inclusive.
     The complaint alleges that defendants' publicly disclosed financial
 results for the fiscal year 2000 (which ended February 26, 2000) were
 materially false and misleading.
     On March 29, 2001, California Amplifier issued a press release which
 disclosed the sudden resignation of its controller, after he admitted to
 manipulating the Company's fiscal year 2000 financial results.  The effect of
 this manipulation was to inflate the reported earnings of California Amplifier
 for fiscal 2000 by $2.2 million or $0.18 per share, which represents nearly
 half of the Company's previously reported operating net income of
 $4,686,000.  On April 4, 2001, California Amplifier further announced that its
 auditor, Arthur Andersen LLP, had withdrawn its audit opinion with respect to
 the fiscal year 2000 financial statements.  The Company further disclosed that
 the interim 2001 quarterly financial statements also overstated net income.
     Trading in the stock of California Amplifier was halted on NASDAQ, and as
 of April 4, 2001, the stock has not resumed trading.
     Wolf Popper has extensive experience representing shareholders in class
 actions and has successfully recovered billions of dollars for defrauded
 investors and shareholders.  The reputation and expertise of the firm in
 shareholder and other class action litigation has been repeatedly recognized
 by the courts, which have appointed the firm to major positions in complex
 multi-district and consolidated litigations.
     Members of the proposed class who desire to be appointed lead plaintiff in
 this action must file a motion with the Court no later than May 29, 2001.
 Class members must meet certain legal requirements to serve as a lead
 plaintiff.  If you have questions or information regarding this action, or if
 you are interested in serving as a lead plaintiff, you may call or write:
 
     Robert C. Finkel, Esq.                   Telephone:     212-451-9620
     James A. Harrod, Esq.                    Telephone      212-451-9642
     Douglas Rotela,
       Investor Relations Representative      Toll Free:     877-370-7703
 
     Wolf Popper LLP
     845 Third Avenue
     New York, NY  10022-6689
     212-759-4600
 
     Facsimile:  212-486-2093 or 877-370-7704
     E-Mail:  IRRep@wolfpopper.com
 
 

SOURCE Wolf Popper LLP
    NEW YORK, April 5 /PRNewswire/ --
 California Amplifier, Inc. (Nasdaq:   CAMP) and certain of its senior officers
 have been charged with violations of the United States securities laws by a
 client of Wolf Popper LLP, in a class action lawsuit brought in the United
 States District Court for the Central District of California.  The lawsuit was
 brought on behalf of all persons who purchased Maxim common stock on the open
 market during a period beginning on April 7, 2000 through March 28, 2001,
 inclusive.
     The complaint alleges that defendants' publicly disclosed financial
 results for the fiscal year 2000 (which ended February 26, 2000) were
 materially false and misleading.
     On March 29, 2001, California Amplifier issued a press release which
 disclosed the sudden resignation of its controller, after he admitted to
 manipulating the Company's fiscal year 2000 financial results.  The effect of
 this manipulation was to inflate the reported earnings of California Amplifier
 for fiscal 2000 by $2.2 million or $0.18 per share, which represents nearly
 half of the Company's previously reported operating net income of
 $4,686,000.  On April 4, 2001, California Amplifier further announced that its
 auditor, Arthur Andersen LLP, had withdrawn its audit opinion with respect to
 the fiscal year 2000 financial statements.  The Company further disclosed that
 the interim 2001 quarterly financial statements also overstated net income.
     Trading in the stock of California Amplifier was halted on NASDAQ, and as
 of April 4, 2001, the stock has not resumed trading.
     Wolf Popper has extensive experience representing shareholders in class
 actions and has successfully recovered billions of dollars for defrauded
 investors and shareholders.  The reputation and expertise of the firm in
 shareholder and other class action litigation has been repeatedly recognized
 by the courts, which have appointed the firm to major positions in complex
 multi-district and consolidated litigations.
     Members of the proposed class who desire to be appointed lead plaintiff in
 this action must file a motion with the Court no later than May 29, 2001.
 Class members must meet certain legal requirements to serve as a lead
 plaintiff.  If you have questions or information regarding this action, or if
 you are interested in serving as a lead plaintiff, you may call or write:
 
     Robert C. Finkel, Esq.                   Telephone:     212-451-9620
     James A. Harrod, Esq.                    Telephone      212-451-9642
     Douglas Rotela,
       Investor Relations Representative      Toll Free:     877-370-7703
 
     Wolf Popper LLP
     845 Third Avenue
     New York, NY  10022-6689
     212-759-4600
 
     Facsimile:  212-486-2093 or 877-370-7704
     E-Mail:  IRRep@wolfpopper.com
 
 SOURCE  Wolf Popper LLP