Shareholder Class Action Filed Against Sensormatic Electronics Corp. by The Law Firm of Schiffrin & Barroway, LLP

Apr 23, 2001, 01:00 ET from Schiffrin & Barroway, LLP

    BALA CYNWYD, Pa., April 23 /PRNewswire Interactive News Release/ --
 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 Florida, located at 301 N.
 Miami Ave., Miami, Florida, on behalf of all purchasers of the common stock of
 Sensormatic Electronics Corp. (NYSE:   SRM) from January 12, 2001 through April
 9, 2001, 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 Sensormatic Electronics and certain of its officers
 and directors with issuing false and misleading statements concerning its
 business and financial condition.  Specifically, the complaint alleges that
 defendants stated they had strong and growing sales and lucrative new
 contracts with massive clients.  Defendants, however, failed to disclose that
 demand for Sensormatic's products was sluggish throughout the Class Period,
 and the Company was deeply discounting its products to inflate sales.  On
 April 10, 2001, Sensormatic issued a press release announcing that its 3Q 2001
 revenues had declined from its 3Q 1999, and that it would miss securities
 analysts' earnings estimates by 66%.  As a result of this announcement,
 Sensormatic's stock price dropped by 31% in one day.
     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 this action online, please visit www.sbclasslaw.com.
     If you are a member of the class described above, you may, not later than
 June 19, 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
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X88882368
 
 

SOURCE Schiffrin & Barroway, LLP
    BALA CYNWYD, Pa., April 23 /PRNewswire Interactive News Release/ --
 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 Florida, located at 301 N.
 Miami Ave., Miami, Florida, on behalf of all purchasers of the common stock of
 Sensormatic Electronics Corp. (NYSE:   SRM) from January 12, 2001 through April
 9, 2001, 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 Sensormatic Electronics and certain of its officers
 and directors with issuing false and misleading statements concerning its
 business and financial condition.  Specifically, the complaint alleges that
 defendants stated they had strong and growing sales and lucrative new
 contracts with massive clients.  Defendants, however, failed to disclose that
 demand for Sensormatic's products was sluggish throughout the Class Period,
 and the Company was deeply discounting its products to inflate sales.  On
 April 10, 2001, Sensormatic issued a press release announcing that its 3Q 2001
 revenues had declined from its 3Q 1999, and that it would miss securities
 analysts' earnings estimates by 66%.  As a result of this announcement,
 Sensormatic's stock price dropped by 31% in one day.
     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 this action online, please visit www.sbclasslaw.com.
     If you are a member of the class described above, you may, not later than
 June 19, 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
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X88882368
 
 SOURCE  Schiffrin & Barroway, LLP