PartsBase.com, Inc. Named in Securities Class Action Filed By Berman DeValerio & Pease

Apr 25, 2001, 01:00 ET from Berman DeValerio & Pease

    WEST PALM BEACH, Fla., April 25 /PRNewswire/ -- A shareholder sued
 PartsBase.com, Inc. (Nasdaq: PRTS) and its underwriters today for
 "misrepresentations and material omissions" allegedly contained in documents
 related to the company's initial public offering.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010405/BDPLOGO )
     The law firm of Berman DeValerio & Pease said filed the class action,
 captioned IKCyberInvestments v. Partsbase.com, Inc, in U.S. District Court for
 the Southern District of Florida, West Palm Beach Division. The complaint
 seeks damages for violations of federal securities laws on behalf of all
 investors who purchased shares in or traceable to the offering, which was
 declared effective by the Securities and Exchange Commission (SEC) on March
 22, 2000, up to and including April 25, 2000.
     Berman DeValerio & Pease has represented investors in class actions for
 nearly two decades. To review the complaint and learn more about becoming a
 lead plaintiff, visit our Website at www.bermanesq.com.
     PartsBase runs an online auction site where member businesses can buy and
 sell aviation parts and products. According to the complaint, the Registration
 Statement and Prospectus filed with the SEC said the company had 13,000
 members, when it only had about 3,000 paying subscribers.
     The defendants include several top officers and directors of the company,
 along with two lead underwriters for the IPO, Roth Capital Partners, Inc., and
 PMG Capital Corp. (formerly Penn Merchant Group, Ltd).
     As a result of the misrepresentations and material omissions, investors
 suffered millions of dollars in damages, the complaint says. PartsBase stock
 closed at $1.05 on April 23, 2001, far below the offering price of $13 per
 share.
     If you purchased PartsBase common stock in or traceable to the March 22,
 2000 public offering, up to and including April 25, 2000, you may wish to
 contact the following attorneys at Berman DeValerio & Pease to discuss your
 rights and interests:
 
      N. Nancy Ghabai, Esq.
      Michael G. Lange, Esq.
      Berman DeValerio & Pease
      One Liberty Square
      Boston, MA 02109
      bdplaw@bermanesq.com
      (800) 516-9926
 
     If you wish to apply to be lead plaintiff in this action, a motion must be
 filed on your behalf with the court no later than June 18, 2001.  You may
 contact the attorneys at Berman DeValerio & Pease to discuss your rights
 regarding the appointment of lead plaintiff and your interest in the class
 action. To be a member of the class, however, you need not take any action at
 this time and you may retain counsel of your own choice.  If you decide to
 seek appointment as lead plaintiff, you may also retain counsel of your
 choice.
     With offices in Boston and San Francisco, Berman DeValerio & Pease has
 prosecuted shareholder class actions since 1982, recovering more than $1
 billion for investors. The firm has acted as lead counsel in numerous lawsuits
 involving violations of federal securities laws. It has successfully litigated
 these actions, and has been singled out for its excellence by many courts.
 The firm prides itself on its responsiveness to shareholders and their needs
 in each case.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X74283410
 
 

SOURCE Berman DeValerio & Pease
    WEST PALM BEACH, Fla., April 25 /PRNewswire/ -- A shareholder sued
 PartsBase.com, Inc. (Nasdaq: PRTS) and its underwriters today for
 "misrepresentations and material omissions" allegedly contained in documents
 related to the company's initial public offering.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010405/BDPLOGO )
     The law firm of Berman DeValerio & Pease said filed the class action,
 captioned IKCyberInvestments v. Partsbase.com, Inc, in U.S. District Court for
 the Southern District of Florida, West Palm Beach Division. The complaint
 seeks damages for violations of federal securities laws on behalf of all
 investors who purchased shares in or traceable to the offering, which was
 declared effective by the Securities and Exchange Commission (SEC) on March
 22, 2000, up to and including April 25, 2000.
     Berman DeValerio & Pease has represented investors in class actions for
 nearly two decades. To review the complaint and learn more about becoming a
 lead plaintiff, visit our Website at www.bermanesq.com.
     PartsBase runs an online auction site where member businesses can buy and
 sell aviation parts and products. According to the complaint, the Registration
 Statement and Prospectus filed with the SEC said the company had 13,000
 members, when it only had about 3,000 paying subscribers.
     The defendants include several top officers and directors of the company,
 along with two lead underwriters for the IPO, Roth Capital Partners, Inc., and
 PMG Capital Corp. (formerly Penn Merchant Group, Ltd).
     As a result of the misrepresentations and material omissions, investors
 suffered millions of dollars in damages, the complaint says. PartsBase stock
 closed at $1.05 on April 23, 2001, far below the offering price of $13 per
 share.
     If you purchased PartsBase common stock in or traceable to the March 22,
 2000 public offering, up to and including April 25, 2000, you may wish to
 contact the following attorneys at Berman DeValerio & Pease to discuss your
 rights and interests:
 
      N. Nancy Ghabai, Esq.
      Michael G. Lange, Esq.
      Berman DeValerio & Pease
      One Liberty Square
      Boston, MA 02109
      bdplaw@bermanesq.com
      (800) 516-9926
 
     If you wish to apply to be lead plaintiff in this action, a motion must be
 filed on your behalf with the court no later than June 18, 2001.  You may
 contact the attorneys at Berman DeValerio & Pease to discuss your rights
 regarding the appointment of lead plaintiff and your interest in the class
 action. To be a member of the class, however, you need not take any action at
 this time and you may retain counsel of your own choice.  If you decide to
 seek appointment as lead plaintiff, you may also retain counsel of your
 choice.
     With offices in Boston and San Francisco, Berman DeValerio & Pease has
 prosecuted shareholder class actions since 1982, recovering more than $1
 billion for investors. The firm has acted as lead counsel in numerous lawsuits
 involving violations of federal securities laws. It has successfully litigated
 these actions, and has been singled out for its excellence by many courts.
 The firm prides itself on its responsiveness to shareholders and their needs
 in each case.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X74283410
 
 SOURCE  Berman DeValerio & Pease