Spector, Roseman & Kodroff, P.C. Files Class Action Suit Against California Amplifier, Inc.

Apr 13, 2001, 01:00 ET from Spector, Roseman & Kodroff, P.C.

    PHILADELPHIA, April 13 /PRNewswire/ -- The law firm of Spector, Roseman &
 Kodroff, P.C. announces that a class action lawsuit has been commenced in the
 United States District Court for the Central District of California against
 defendant California Amplifier, Inc. (Nasdaq:   CAMP) ("California Amplifier" or
 the "Company") on behalf of purchasers of the stock of California Amplifier
 during the period from April 7, 2000 through March 28, 2001, inclusive (the
 "Class Period").
     The complaint charges California Amplifier with violations of the
 Securities Exchange Act of 1934.  California Amplifier designs, manufactures
 and markets microwave components used in both defense and commercial markets.
 The Company's products are used for the amplification and conversion of
 microwave signals for satellite television, Global Positioning Satellite,
 wireless cable, two-way voice and data communications, and broadband
 applications.
     On March 29, 2001, California Amplifier announced that it will restate its
 fiscal 2000 financial statements because of accounting misstatements.  The
 press release issued in connection with the announcement stated, in part:
 "California Amplifier Inc. today announced that during preparation for the
 Company's fiscal year 2001 audit examination, the Company's corporate
 controller abruptly resigned and advised by letter that in fiscal year 2000 he
 made certain adjustments to the Company's accounting records that caused a
 reduction in recorded expenses which may have resulted in overstating net
 income for the fiscal year ended February 26, 2000 by as much as $2.2 million,
 or $.18 per basic share.  The Company is actively investigating the
 circumstances reported by the controller but has not yet been able to
 interview the controller fully and, as a result, is unable at this time to
 reach any definitive conclusions as to the exact expenses or fiscal year 2000
 quarters that are affected by this alleged overstatement.  Due to these
 developments, the previously scheduled release of earnings for the fourth
 quarter and the fiscal year ended March 3, 2001 on April 19, 2001 will be
 postponed to a future date to be announced.  If the investigation ultimately
 confirms an overstatement of income in fiscal year 2000, the Company will be
 required to restate its fiscal year 2000 consolidated financial statements."
 On this news, trading in California Amplifier shares was halted at $5.03 -- or
 more than 90% lower than the Class Period high of $59.25.
     If you purchased California Amplifier securities during the Class Period,
 you may, no later than May 29, 2001, move to be appointed as a Lead Plaintiff
 in this class action.  A Lead Plaintiff is a representative, chosen by the
 Court, that acts on behalf of other class members in directing the litigation.
 The Private Securities Litigation Reform Act of 1995 directs Courts to assume
 that the class member(s) with the "largest financial interest" in the outcome
 of the case will best serve the class in this capacity.  Courts have
 discretion in determining which class member(s) have the "largest financial
 interest," and have appointed Lead Plaintiffs with substantial losses in both
 absolute terms and as a percentage of their net worth.  If you have sustained
 substantial losses in California Amplifier securities during the Class Period,
 please contact Spector, Roseman & Kodroff, P.C. at
 classaction@spectorandroseman.com for a more thorough explanation of the Lead
 Plaintiff selection process.  If you have relatively small losses, your
 ability to participate in any recovery will be protected by the Lead
 Plaintiff(s), and you need take no affirmative steps at this time.
     If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests, please contact plaintiff's counsel Robert
 M. Roseman toll-free at 888-844-5862 or via E-mail at
 classaction@spectorandroseman.com.  For more detailed information about the
 firm please visit its website at http://www.spectorandroseman.com.
     Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania
 and San Diego, California, concentrates its practice in complex litigation
 including actions dealing with securities laws, antitrust, contract and
 commercial claims.  The firm is active in major litigation pending in federal
 and state courts throughout the United States.  The firm's reputation for
 excellence has been recognized on repeated occasions by courts which have
 appointed the firm as lead counsel in numerous major class actions involving
 violations of the federal securities laws and the federal antitrust laws, and
 consumer fraud.  As a result of the efforts of the firm, and its members,
 hundreds of millions of dollars have been recovered on behalf of thousands of
 defrauded shareholders and companies.
 
 

SOURCE Spector, Roseman & Kodroff, P.C.
    PHILADELPHIA, April 13 /PRNewswire/ -- The law firm of Spector, Roseman &
 Kodroff, P.C. announces that a class action lawsuit has been commenced in the
 United States District Court for the Central District of California against
 defendant California Amplifier, Inc. (Nasdaq:   CAMP) ("California Amplifier" or
 the "Company") on behalf of purchasers of the stock of California Amplifier
 during the period from April 7, 2000 through March 28, 2001, inclusive (the
 "Class Period").
     The complaint charges California Amplifier with violations of the
 Securities Exchange Act of 1934.  California Amplifier designs, manufactures
 and markets microwave components used in both defense and commercial markets.
 The Company's products are used for the amplification and conversion of
 microwave signals for satellite television, Global Positioning Satellite,
 wireless cable, two-way voice and data communications, and broadband
 applications.
     On March 29, 2001, California Amplifier announced that it will restate its
 fiscal 2000 financial statements because of accounting misstatements.  The
 press release issued in connection with the announcement stated, in part:
 "California Amplifier Inc. today announced that during preparation for the
 Company's fiscal year 2001 audit examination, the Company's corporate
 controller abruptly resigned and advised by letter that in fiscal year 2000 he
 made certain adjustments to the Company's accounting records that caused a
 reduction in recorded expenses which may have resulted in overstating net
 income for the fiscal year ended February 26, 2000 by as much as $2.2 million,
 or $.18 per basic share.  The Company is actively investigating the
 circumstances reported by the controller but has not yet been able to
 interview the controller fully and, as a result, is unable at this time to
 reach any definitive conclusions as to the exact expenses or fiscal year 2000
 quarters that are affected by this alleged overstatement.  Due to these
 developments, the previously scheduled release of earnings for the fourth
 quarter and the fiscal year ended March 3, 2001 on April 19, 2001 will be
 postponed to a future date to be announced.  If the investigation ultimately
 confirms an overstatement of income in fiscal year 2000, the Company will be
 required to restate its fiscal year 2000 consolidated financial statements."
 On this news, trading in California Amplifier shares was halted at $5.03 -- or
 more than 90% lower than the Class Period high of $59.25.
     If you purchased California Amplifier securities during the Class Period,
 you may, no later than May 29, 2001, move to be appointed as a Lead Plaintiff
 in this class action.  A Lead Plaintiff is a representative, chosen by the
 Court, that acts on behalf of other class members in directing the litigation.
 The Private Securities Litigation Reform Act of 1995 directs Courts to assume
 that the class member(s) with the "largest financial interest" in the outcome
 of the case will best serve the class in this capacity.  Courts have
 discretion in determining which class member(s) have the "largest financial
 interest," and have appointed Lead Plaintiffs with substantial losses in both
 absolute terms and as a percentage of their net worth.  If you have sustained
 substantial losses in California Amplifier securities during the Class Period,
 please contact Spector, Roseman & Kodroff, P.C. at
 classaction@spectorandroseman.com for a more thorough explanation of the Lead
 Plaintiff selection process.  If you have relatively small losses, your
 ability to participate in any recovery will be protected by the Lead
 Plaintiff(s), and you need take no affirmative steps at this time.
     If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests, please contact plaintiff's counsel Robert
 M. Roseman toll-free at 888-844-5862 or via E-mail at
 classaction@spectorandroseman.com.  For more detailed information about the
 firm please visit its website at http://www.spectorandroseman.com.
     Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania
 and San Diego, California, concentrates its practice in complex litigation
 including actions dealing with securities laws, antitrust, contract and
 commercial claims.  The firm is active in major litigation pending in federal
 and state courts throughout the United States.  The firm's reputation for
 excellence has been recognized on repeated occasions by courts which have
 appointed the firm as lead counsel in numerous major class actions involving
 violations of the federal securities laws and the federal antitrust laws, and
 consumer fraud.  As a result of the efforts of the firm, and its members,
 hundreds of millions of dollars have been recovered on behalf of thousands of
 defrauded shareholders and companies.
 
 SOURCE  Spector, Roseman & Kodroff, P.C.