Weiss & Yourman Announces Class Action Lawsuit Filed on Behalf of All Persons Who Purchased Cisco Systems, Inc., Common Stock Between August 10, 1999 and April 16, 2001

Apr 23, 2001, 01:00 ET from Weiss & Yourman

    LOS ANGELES, April 23 /PRNewswire Interactive News Release/ -- Weiss &
 Yourman announced that it has filed a class action complaint on behalf of all
 persons who acquired Cisco Systems, Inc., (Nasdaq:   CSCO) securities between
 August 10, 1999 and April 16, 2001, inclusive (the "Class Period").  The
 complaint charges Cisco Systems, Inc., and its top officers and directors with
 violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
     Cisco and its subsidiaries are engaged in selling products for networking
 for the Internet.
     The complaint alleges that at the beginning of the Class Period, Internet
 Service Providers and competitive local telephone companies had technology to
 deploy but little capital, and Cisco used this an as opportunity to increase
 its sales by providing capital financing to such companies but making such
 financing conditional upon the purchase of large amounts of Cisco product.
 Through this manipulation and the shipment of defective products, as well as
 Cisco's failure to adequately accrue for excess and overvalued inventory and
 uncollectible finance receivables, Cisco was able to report "record" earnings
 each quarter during the Class Period.  Defendants made false statements about
 Cisco's products, financial results and business during the Class Period.  As
 a result, Cisco's stock traded as high as $82.  After completing more than
 20 major acquisitions between September 1999 and February 2001, Cisco
 announced disappointing 2ndQ F01 results.  This disclosure caused Cisco's
 stock to decline to less than $30 per share before closing at $31-1/16 per
 share on 2/27/01.  Cisco further announced a 2.5 billion write-down of its
 inventory on April 16, 2001.  This was one of the largest write-downs in the
 history of the world.
     The complaint alleges that as a result of the defendants' conduct,
 plaintiff and other members of the Class suffered damages.
     Plaintiff seeks to recover damages on behalf of the Class and is
 represented by Weiss & Yourman.  The firm, with offices in New York and Los
 Angeles, has extensive experience in complex litigation, particularly
 securities class actions, and has been appointed lead class counsel in
 numerous consolidated and multi-district cases.  You may visit the company's
 website at http://www.wyca.com.
     If you are member of the Class as described above, you may move the court
 no later than June 15, 2001, to serve as a lead plaintiff for the Class.
 However, in order to do so, you must meet certain legal requirements pursuant
 to the Private Securities Litigation Reform Act of 1995.
     If you wish to discuss this action, participate in this suit or have any
 questions or concerns regarding this Notice, or preservation of your rights or
 interests, please contact: Mark A. Gordon, Esq. of Weiss & Yourman - Los
 Angeles, Telephone: (800) 437-7918, email:  wyinfo@wyca.com
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X72845038
 
 

SOURCE Weiss & Yourman
    LOS ANGELES, April 23 /PRNewswire Interactive News Release/ -- Weiss &
 Yourman announced that it has filed a class action complaint on behalf of all
 persons who acquired Cisco Systems, Inc., (Nasdaq:   CSCO) securities between
 August 10, 1999 and April 16, 2001, inclusive (the "Class Period").  The
 complaint charges Cisco Systems, Inc., and its top officers and directors with
 violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
     Cisco and its subsidiaries are engaged in selling products for networking
 for the Internet.
     The complaint alleges that at the beginning of the Class Period, Internet
 Service Providers and competitive local telephone companies had technology to
 deploy but little capital, and Cisco used this an as opportunity to increase
 its sales by providing capital financing to such companies but making such
 financing conditional upon the purchase of large amounts of Cisco product.
 Through this manipulation and the shipment of defective products, as well as
 Cisco's failure to adequately accrue for excess and overvalued inventory and
 uncollectible finance receivables, Cisco was able to report "record" earnings
 each quarter during the Class Period.  Defendants made false statements about
 Cisco's products, financial results and business during the Class Period.  As
 a result, Cisco's stock traded as high as $82.  After completing more than
 20 major acquisitions between September 1999 and February 2001, Cisco
 announced disappointing 2ndQ F01 results.  This disclosure caused Cisco's
 stock to decline to less than $30 per share before closing at $31-1/16 per
 share on 2/27/01.  Cisco further announced a 2.5 billion write-down of its
 inventory on April 16, 2001.  This was one of the largest write-downs in the
 history of the world.
     The complaint alleges that as a result of the defendants' conduct,
 plaintiff and other members of the Class suffered damages.
     Plaintiff seeks to recover damages on behalf of the Class and is
 represented by Weiss & Yourman.  The firm, with offices in New York and Los
 Angeles, has extensive experience in complex litigation, particularly
 securities class actions, and has been appointed lead class counsel in
 numerous consolidated and multi-district cases.  You may visit the company's
 website at http://www.wyca.com.
     If you are member of the Class as described above, you may move the court
 no later than June 15, 2001, to serve as a lead plaintiff for the Class.
 However, in order to do so, you must meet certain legal requirements pursuant
 to the Private Securities Litigation Reform Act of 1995.
     If you wish to discuss this action, participate in this suit or have any
 questions or concerns regarding this Notice, or preservation of your rights or
 interests, please contact: Mark A. Gordon, Esq. of Weiss & Yourman - Los
 Angeles, Telephone: (800) 437-7918, email:  wyinfo@wyca.com
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X72845038
 
 SOURCE  Weiss & Yourman