Cauley Geller Bowman & Coates, LLP Announces Class Action Lawsuit Against Nuance Communications Inc. Seeking Damages on Behalf of Shareholders

Apr 13, 2001, 01:00 ET from Cauley Geller Bowman & Coates, LLP

    LITTLE ROCK, Ark., April 13 /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 Northern District of California on behalf
 of all individuals and institutional investors that purchased the common stock
 of Nuance Communications Inc. (Nasdaq: NUAN) ("Nuance" or the Company")
 between January 31, 2001 and March 15, 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 future
 growth potential, and as a result of these false and misleading statements the
 Company's stock traded at artificially inflated prices during the class
 period.  Nuance develops, markets, and supports a voice-recognition software
 platform that purportedly makes the information and services of enterprises,
 telecommunications networks, and the Internet accessible from any telephone.
 The complaint alleges that after exceeding analysts' earnings expectations for
 its fourth quarter and reporting "record revenue," defendants reaffirmed
 Nuance's leadership position in the voice-recognition market and the continued
 revenue growth experienced since the end of the fourth quarter.  Thereafter,
 the Individual Defendants, contrary to their unwavering public support for the
 Company's prospects and its stock, sold vast quantities of their holdings in
 Nuance stock.
     Just weeks after defendants finished selling their own Nuance stock, they
 revealed that the Company's revenue growth had in fact ceased, and that
 revenues for the quarter would be well below those reported for the prior
 quarter.  Commenting on the disappointing news, defendants stated: "Nuance
 attributes the revenue shortfall primarily to general economic conditions,
 which have led customers and customer prospects to postpone capital investment
 in Nuance products and service offerings based on Nuance products.  The
 company believes its visibility is limited for both the second quarter and
 full-year results."  Immediately following defendants' March 15, 2001
 disclosures, the price of Nuance stock dropped, falling from its closing price
 of $17 per share March 15, 2001 to $9.68 per share at the close
 on March 16, 2001, a drop of more than 40%.
     If you bought the common stock of Nuance between January 31, 2001 and
 March 15, 2001, inclusive, you may, no later than May 21, 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 13 /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 Northern District of California on behalf
 of all individuals and institutional investors that purchased the common stock
 of Nuance Communications Inc. (Nasdaq: NUAN) ("Nuance" or the Company")
 between January 31, 2001 and March 15, 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 future
 growth potential, and as a result of these false and misleading statements the
 Company's stock traded at artificially inflated prices during the class
 period.  Nuance develops, markets, and supports a voice-recognition software
 platform that purportedly makes the information and services of enterprises,
 telecommunications networks, and the Internet accessible from any telephone.
 The complaint alleges that after exceeding analysts' earnings expectations for
 its fourth quarter and reporting "record revenue," defendants reaffirmed
 Nuance's leadership position in the voice-recognition market and the continued
 revenue growth experienced since the end of the fourth quarter.  Thereafter,
 the Individual Defendants, contrary to their unwavering public support for the
 Company's prospects and its stock, sold vast quantities of their holdings in
 Nuance stock.
     Just weeks after defendants finished selling their own Nuance stock, they
 revealed that the Company's revenue growth had in fact ceased, and that
 revenues for the quarter would be well below those reported for the prior
 quarter.  Commenting on the disappointing news, defendants stated: "Nuance
 attributes the revenue shortfall primarily to general economic conditions,
 which have led customers and customer prospects to postpone capital investment
 in Nuance products and service offerings based on Nuance products.  The
 company believes its visibility is limited for both the second quarter and
 full-year results."  Immediately following defendants' March 15, 2001
 disclosures, the price of Nuance stock dropped, falling from its closing price
 of $17 per share March 15, 2001 to $9.68 per share at the close
 on March 16, 2001, a drop of more than 40%.
     If you bought the common stock of Nuance between January 31, 2001 and
 March 15, 2001, inclusive, you may, no later than May 21, 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