Cauley Geller Bowman & Coates, LLP Announces Class Action Lawsuit Against California Amplifier, Inc.

Apr 17, 2001, 01:00 ET from Cauley Geller Bowman & Coates, LLP

    LITTLE ROCK, Ark., April 17 /PRNewswire/ -- The Law Firm of Cauley Geller
 Bowman & Coates, LLP announced today that it has filed a class action in the
 United States District Court for the Central District of California on behalf
 of all individuals and institutional investors that purchased the publicly
 traded securities of California Amplifier, Inc. (Nasdaq: CAMP) ("California
 Amplifier" or the "Company") between April 7, 2000 and March 28, 2001,
 inclusive (the "Class Period").
     The complaint charges that the Company and certain of its officers and
 directors violated the federal securities laws by providing materially false
 and misleading information about the Company's financial condition, and as a
 result of these false and misleading statements the Company's stock traded at
 artificially inflated prices during the class period.  On March 29, 2001,
 California Amplifier announced that it will restate its fiscal 2000 financial
 statements because of accounting misstatements.  The press release issued in
 connection with the announcement stated, in part: "California Amplifier Inc.
 today announced that during preparation for the Company's fiscal year 2001
 audit examination, the Company's corporate controller abruptly resigned and
 advised by letter that in fiscal year 2000 he made certain adjustments to the
 Company's accounting records that caused a reduction in recorded expenses
 which may have resulted in overstating net income for the fiscal year ended
 February 26, 2000 by as much as $2.2 million, or $.18 per basic share.  The
 Company is actively investigating the circumstances reported by the controller
 but has not yet been able to interview the controller fully and, as a result,
 is unable at this time to reach any definitive conclusions as to the exact
 expenses or fiscal year 2000 quarters that are affected by this alleged
 overstatement.  Due to these developments, the previously scheduled release of
 earnings for the fourth quarter and the fiscal year ended March 3, 2001 on
 April 19, 2001 will be postponed to a future date to be announced.  If the
 investigation ultimately confirms an overstatement of income in fiscal
 year 2000, the Company will be required to restate its fiscal year 2000
 consolidated financial statements."  On this news, trading in California
 Amplifier shares was halted at $5.03 -- or more than 90% lower than the Class
 Period high of $59.25
     If you bought the securities of California Amplifier between April 7, 2000
 and March 28, 2001, inclusive, you may, no later than May 29, 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
 
 

SOURCE Cauley Geller Bowman & Coates, LLP
    LITTLE ROCK, Ark., April 17 /PRNewswire/ -- The Law Firm of Cauley Geller
 Bowman & Coates, LLP announced today that it has filed a class action in the
 United States District Court for the Central District of California on behalf
 of all individuals and institutional investors that purchased the publicly
 traded securities of California Amplifier, Inc. (Nasdaq: CAMP) ("California
 Amplifier" or the "Company") between April 7, 2000 and March 28, 2001,
 inclusive (the "Class Period").
     The complaint charges that the Company and certain of its officers and
 directors violated the federal securities laws by providing materially false
 and misleading information about the Company's financial condition, and as a
 result of these false and misleading statements the Company's stock traded at
 artificially inflated prices during the class period.  On March 29, 2001,
 California Amplifier announced that it will restate its fiscal 2000 financial
 statements because of accounting misstatements.  The press release issued in
 connection with the announcement stated, in part: "California Amplifier Inc.
 today announced that during preparation for the Company's fiscal year 2001
 audit examination, the Company's corporate controller abruptly resigned and
 advised by letter that in fiscal year 2000 he made certain adjustments to the
 Company's accounting records that caused a reduction in recorded expenses
 which may have resulted in overstating net income for the fiscal year ended
 February 26, 2000 by as much as $2.2 million, or $.18 per basic share.  The
 Company is actively investigating the circumstances reported by the controller
 but has not yet been able to interview the controller fully and, as a result,
 is unable at this time to reach any definitive conclusions as to the exact
 expenses or fiscal year 2000 quarters that are affected by this alleged
 overstatement.  Due to these developments, the previously scheduled release of
 earnings for the fourth quarter and the fiscal year ended March 3, 2001 on
 April 19, 2001 will be postponed to a future date to be announced.  If the
 investigation ultimately confirms an overstatement of income in fiscal
 year 2000, the Company will be required to restate its fiscal year 2000
 consolidated financial statements."  On this news, trading in California
 Amplifier shares was halted at $5.03 -- or more than 90% lower than the Class
 Period high of $59.25
     If you bought the securities of California Amplifier between April 7, 2000
 and March 28, 2001, inclusive, you may, no later than May 29, 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
 
 SOURCE  Cauley Geller Bowman & Coates, LLP