Cauley Geller Bowman & Coates, LLP Announces Class Action Lawsuit Against Accelerated Networks Inc. Seeking Damages on Behalf of Investors

Apr 27, 2001, 01:00 ET from Cauley Geller Bowman & Coates, LLP

    LITTLE ROCK, Ark., April 27 /PRNewswire/ -- The Law Firm of Cauley Geller
 Bowman & Coates, LLP announced today that a class action has been filed in the
 United States District Court for the Central District of California on behalf
 of purchasers of Accelerated Networks Inc. (Nasdaq:   ACCLE) ("Accelerated
 Networks" or the "Company") publicly traded securities during the period
 between June 22, 2000 and April 17, 2001, inclusive (the "Class Period").
     The complaint charges Accelerated Networks and certain officers and
 directors with violations of the federal securities laws by issuing materially
 false and misleading information and failing to disclose material adverse
 information that misrepresented the Company's financial condition and
 prospects.  Accelerated Networks develops and markets telecommunication
 products that enable the bundling of voice and data services over a single
 broadband access network.  The company's multi-service broadband access
 products deliver and manage multiple voice and data services using digital
 subscriber lines, T1, NxT1 and DS3 technologies.  Customers include providers
 of voice and data services.
     The complaint alleges that, throughout the Class Period, defendants
 misrepresented Accelerated Networks' financial condition and overstated its
 operating results by improperly recognizing revenue.  As a result of the
 defendants' overstating the Company's revenues and earnings, Accelerated
 Networks' stock price was artificially inflated throughout the Class Period.
 On April 17, 2001, Accelerated Networks announced that it will likely restate
 its FY 2000 financial statements because of accounting misstatements.  On this
 news, trading in Accelerated Networks shares was halted at $1.18 per share, or
 more than 98% below its Class Period high of $67.50.
     If you bought the securities of Accelerated Networks between June 22, 2000
 and April 17, 2001, inclusive, you may, no later than June 18, 2001, request
 that the Court appoint you as lead plaintiff.  A lead plaintiff is a
 representative party that acts on behalf of other class members in directing
 the litigation.  In order to be appointed lead plaintiff, the Court must
 determine that the class member's claim is typical of the claims of other
 class members, and that the class member will adequately represent the class.
 Under certain circumstances, one or more class members may together serve as
 "lead plaintiff."  Your ability to share in any recovery is not, however,
 affected by the decision whether or not to serve as a lead plaintiff.  You may
 retain Cauley Geller Bowman & Coates, LLP, or other counsel of your choice, to
 serve as your counsel in this action.  Cauley Geller Bowman & Coates, LLP has
 substantial experience representing investors in securities fraud class action
 lawsuits such as this.  The firm has offices in Florida, Arkansas and
 California, but represents shareholders from throughout the nation.  If you
 have any questions about how you may be able to recover for your losses, or if
 you would like to consider serving as one of the lead plaintiffs in this
 lawsuit, you are encouraged to call or e-mail the Firm or visit the Firm's
 website at www.classlawyer.com.
 
      CAULEY GELLER BOWMAN & COATES, LLP
      Client Relations Department:
      Sue Null, Charlie Gastineau or Jackie Addison
      P.O. Box 25438
      Little Rock, AR 72221-5438
      Toll Free: 1-888-551-9944
      E-mail: info@classlawyer.com
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X66142227
 
 

SOURCE Cauley Geller Bowman & Coates, LLP
    LITTLE ROCK, Ark., April 27 /PRNewswire/ -- The Law Firm of Cauley Geller
 Bowman & Coates, LLP announced today that a class action has been filed in the
 United States District Court for the Central District of California on behalf
 of purchasers of Accelerated Networks Inc. (Nasdaq:   ACCLE) ("Accelerated
 Networks" or the "Company") publicly traded securities during the period
 between June 22, 2000 and April 17, 2001, inclusive (the "Class Period").
     The complaint charges Accelerated Networks and certain officers and
 directors with violations of the federal securities laws by issuing materially
 false and misleading information and failing to disclose material adverse
 information that misrepresented the Company's financial condition and
 prospects.  Accelerated Networks develops and markets telecommunication
 products that enable the bundling of voice and data services over a single
 broadband access network.  The company's multi-service broadband access
 products deliver and manage multiple voice and data services using digital
 subscriber lines, T1, NxT1 and DS3 technologies.  Customers include providers
 of voice and data services.
     The complaint alleges that, throughout the Class Period, defendants
 misrepresented Accelerated Networks' financial condition and overstated its
 operating results by improperly recognizing revenue.  As a result of the
 defendants' overstating the Company's revenues and earnings, Accelerated
 Networks' stock price was artificially inflated throughout the Class Period.
 On April 17, 2001, Accelerated Networks announced that it will likely restate
 its FY 2000 financial statements because of accounting misstatements.  On this
 news, trading in Accelerated Networks shares was halted at $1.18 per share, or
 more than 98% below its Class Period high of $67.50.
     If you bought the securities of Accelerated Networks between June 22, 2000
 and April 17, 2001, inclusive, you may, no later than June 18, 2001, request
 that the Court appoint you as lead plaintiff.  A lead plaintiff is a
 representative party that acts on behalf of other class members in directing
 the litigation.  In order to be appointed lead plaintiff, the Court must
 determine that the class member's claim is typical of the claims of other
 class members, and that the class member will adequately represent the class.
 Under certain circumstances, one or more class members may together serve as
 "lead plaintiff."  Your ability to share in any recovery is not, however,
 affected by the decision whether or not to serve as a lead plaintiff.  You may
 retain Cauley Geller Bowman & Coates, LLP, or other counsel of your choice, to
 serve as your counsel in this action.  Cauley Geller Bowman & Coates, LLP has
 substantial experience representing investors in securities fraud class action
 lawsuits such as this.  The firm has offices in Florida, Arkansas and
 California, but represents shareholders from throughout the nation.  If you
 have any questions about how you may be able to recover for your losses, or if
 you would like to consider serving as one of the lead plaintiffs in this
 lawsuit, you are encouraged to call or e-mail the Firm or visit the Firm's
 website at www.classlawyer.com.
 
      CAULEY GELLER BOWMAN & COATES, LLP
      Client Relations Department:
      Sue Null, Charlie Gastineau or Jackie Addison
      P.O. Box 25438
      Little Rock, AR 72221-5438
      Toll Free: 1-888-551-9944
      E-mail: info@classlawyer.com
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X66142227
 
 SOURCE  Cauley Geller Bowman & Coates, LLP