Red Hat Sued for Violations of the Federal Securities Laws According To Schiffrin & Barroway, LLP

Apr 04, 2001, 01:00 ET from Schiffrin & Barroway, LLP

    BALA CYNWYD, Pa., April 4 /PRNewswire/ -- The following statement was
 issued today by the law firm of Schiffrin & Barroway, LLP:
 
     Notice is hereby given that a class action lawsuit was filed in the United
 States District Court for the Southern District of New York on behalf of all
 purchasers of the common stock of Red Hat, Inc. (Nasdaq:   RHAT) from August 11,
 1999 through May 25, 2000, inclusive (the "Class Period").
     If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests with respect to these matters, please
 contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Robert B. Weiser,
 Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at
 info@sbclasslaw.com.
     The complaint charges Red Hat and certain of its officers and directors
 with violations of the federal securities laws in connection with the
 Company's August 11, 1999 initial public offering (the "IPO").  The Complaint
 alleges that Red Hat's offering documents filed in connection with the IPO,
 failed to disclose to investors that at least one of the lead underwriters and
 two of the other underwriters had solicited and received excessive and
 undisclosed commissions from certain investors in connection with their
 purchases of Red Hat stock.
     Plaintiff seeks to recover damages on behalf of class members and is
 represented by the law firm of Schiffrin & Barroway, LLP, who has significant
 experience and expertise prosecuting class actions on behalf of investors and
 shareholders.  For more information on Schiffrin & Barroway, or to sign-up to
 participate in the Red Hat action online, please visit www.sbclasslaw.com.
     If you are a member of the class described above, you may, not later than
 May 25, 2001, move the Court to serve as lead plaintiff of the class, if you
 so choose.  In order to serve as lead plaintiff, however, you must meet
 certain legal requirements.
 
     CONTACT:  Schiffrin & Barroway, LLP
               Marc A. Topaz, Esq.
               Robert B. Weiser, Esq.
               Three Bala Plaza East, Suite 400, Bala Cynwyd, PA  19004
               1-888-299-7706 (toll free) or 1-610-667-7706
               Or by e-mail at info@sbclasslaw.com
 
 

SOURCE Schiffrin & Barroway, LLP
    BALA CYNWYD, Pa., April 4 /PRNewswire/ -- The following statement was
 issued today by the law firm of Schiffrin & Barroway, LLP:
 
     Notice is hereby given that a class action lawsuit was filed in the United
 States District Court for the Southern District of New York on behalf of all
 purchasers of the common stock of Red Hat, Inc. (Nasdaq:   RHAT) from August 11,
 1999 through May 25, 2000, inclusive (the "Class Period").
     If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests with respect to these matters, please
 contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Robert B. Weiser,
 Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at
 info@sbclasslaw.com.
     The complaint charges Red Hat and certain of its officers and directors
 with violations of the federal securities laws in connection with the
 Company's August 11, 1999 initial public offering (the "IPO").  The Complaint
 alleges that Red Hat's offering documents filed in connection with the IPO,
 failed to disclose to investors that at least one of the lead underwriters and
 two of the other underwriters had solicited and received excessive and
 undisclosed commissions from certain investors in connection with their
 purchases of Red Hat stock.
     Plaintiff seeks to recover damages on behalf of class members and is
 represented by the law firm of Schiffrin & Barroway, LLP, who has significant
 experience and expertise prosecuting class actions on behalf of investors and
 shareholders.  For more information on Schiffrin & Barroway, or to sign-up to
 participate in the Red Hat action online, please visit www.sbclasslaw.com.
     If you are a member of the class described above, you may, not later than
 May 25, 2001, move the Court to serve as lead plaintiff of the class, if you
 so choose.  In order to serve as lead plaintiff, however, you must meet
 certain legal requirements.
 
     CONTACT:  Schiffrin & Barroway, LLP
               Marc A. Topaz, Esq.
               Robert B. Weiser, Esq.
               Three Bala Plaza East, Suite 400, Bala Cynwyd, PA  19004
               1-888-299-7706 (toll free) or 1-610-667-7706
               Or by e-mail at info@sbclasslaw.com
 
 SOURCE  Schiffrin & Barroway, LLP