Shapiro Haber & Urmy LLP Files Federal Securities Class Action Alleging That California Amplifier, Inc. Defrauded Investors

Apr 18, 2001, 01:00 ET from Shapiro Haber & Urmy LLP

    BOSTON, April 18 /PRNewswire/ -- A class action suit alleging securities
 fraud has been filed in the United States District Court for the Central
 District of California against California Amplifier, Inc. (Nasdaq:   CAMP)
 ("California Amplifier" or the "Company") by the Boston law firm Shapiro Haber
 & Urmy LLP.
     The case was filed on behalf of all persons who purchased the common stock
 of California Amplifier during the period April 7, 2000 through March 28,
 2001, inclusive (the "Class Period").
     The complaint alleges that the defendants violated section 10(b) of the
 Securities Exchange Act of 1934 ("the Exchange Act"), and Rule 10b-5
 promulgated thereunder.  On March 29, 2001, before the market opened,
 California Amplifier shocked the investing public when it announced that it
 was conducting an internal financial investigation in response to the abrupt
 resignation of the Company's corporate controller and the advisement that the
 fiscal year 2000 net income may have been overstated by as much as $2.2
 million.  This news caused the trading of California Amplifier common stock on
 NASDAQ to be halted at $5-1/32 per share -- more than 90% below its Class
 period high of $59-1/4 per share.  The Company has since admitted that it
 overstated its net income for the fiscal years 2000 and 2001.
     Plaintiff seeks to recover damages suffered by class members and is
 represented by the law firm of Shapiro Haber & Urmy LLP, which has
 successfully prosecuted numerous securities class actions on behalf of
 defrauded investors.  More information about the firm and its qualifications
 is available on the firm's website at www.shulaw.com.
     If you are a member of the class described above, you may wish to join the
 action.  You may move the court to serve as a lead plaintiff no later than May
 29, 2001.
     If you would like a copy of the complaint, would like to discuss joining
 this action as a lead plaintiff, or would like to inform us that you are a
 member of the proposed class, please contact Theodore M. Hess-Mahan, Esq. or
 Lisa Palin, paralegal, Shapiro Haber & Urmy LLP, 75 State Street, Boston, MA
 02109, (800) 287-8119, fax at (617) 439-0134, or e-mail at cases@shulaw.com.
 
 

SOURCE Shapiro Haber & Urmy LLP
    BOSTON, April 18 /PRNewswire/ -- A class action suit alleging securities
 fraud has been filed in the United States District Court for the Central
 District of California against California Amplifier, Inc. (Nasdaq:   CAMP)
 ("California Amplifier" or the "Company") by the Boston law firm Shapiro Haber
 & Urmy LLP.
     The case was filed on behalf of all persons who purchased the common stock
 of California Amplifier during the period April 7, 2000 through March 28,
 2001, inclusive (the "Class Period").
     The complaint alleges that the defendants violated section 10(b) of the
 Securities Exchange Act of 1934 ("the Exchange Act"), and Rule 10b-5
 promulgated thereunder.  On March 29, 2001, before the market opened,
 California Amplifier shocked the investing public when it announced that it
 was conducting an internal financial investigation in response to the abrupt
 resignation of the Company's corporate controller and the advisement that the
 fiscal year 2000 net income may have been overstated by as much as $2.2
 million.  This news caused the trading of California Amplifier common stock on
 NASDAQ to be halted at $5-1/32 per share -- more than 90% below its Class
 period high of $59-1/4 per share.  The Company has since admitted that it
 overstated its net income for the fiscal years 2000 and 2001.
     Plaintiff seeks to recover damages suffered by class members and is
 represented by the law firm of Shapiro Haber & Urmy LLP, which has
 successfully prosecuted numerous securities class actions on behalf of
 defrauded investors.  More information about the firm and its qualifications
 is available on the firm's website at www.shulaw.com.
     If you are a member of the class described above, you may wish to join the
 action.  You may move the court to serve as a lead plaintiff no later than May
 29, 2001.
     If you would like a copy of the complaint, would like to discuss joining
 this action as a lead plaintiff, or would like to inform us that you are a
 member of the proposed class, please contact Theodore M. Hess-Mahan, Esq. or
 Lisa Palin, paralegal, Shapiro Haber & Urmy LLP, 75 State Street, Boston, MA
 02109, (800) 287-8119, fax at (617) 439-0134, or e-mail at cases@shulaw.com.
 
 SOURCE  Shapiro Haber & Urmy LLP