Wolf Haldenstein Adler Freeman and Herz LLP Announces Commencement of Class Action Suit Against OPUS360

Apr 27, 2001, 01:00 ET from Wolf Haldenstein Adler Freeman & Herz LLP

    NEW YORK, April 27 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz
 LLP announces that it filed a class action lawsuit in the United States
 District Court for the Southern District of New York, on behalf of purchasers
 of OPUS360 Corporation ("OPUS" or the "Company") (Nasdaq:   OPUS) at, or
 traceable to, Opus' April 7, 2000 initial public offering ("IPO") and through
 March 20, 2001, inclusive, against defendants OPUS, certain of its officers
 and directors, its underwriters, and certain selling shareholders.
     The case name and index number are Adenuga v. OPUS360 Corporation
 (01-CV-3547).  A copy of the complaint filed in this action is available from
 the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP
 website at www.whafh.com .
     The complaint alleges that defendants violated the federal securities laws
 by issuing false and misleading statements regarding OPUS' business and
 financial condition.
     Specifically, the complaint alleges that defendants failed to disclose,
 among other things, that:  (i) OPUS XCHANGE, a product that the Prospectus
 touted as a sophisticated professional matching and project management
 software system, was fatally flawed and could not perform many of the
 functions detailed in the Prospectus; and (ii) that OPUS had no basis for
 stating that the funds earned from the IPO would suffice to fund its
 aggressive expansion plan for at least 12 months following the IPO without
 additional financing.
     However, on March 20, 2001, OPUS filed its financial results for the year
 2000 with the SEC, on Form 10-K.  The 10-K contained a letter from KPMG, LLP,
 OPUS' outside auditors, which revealed that there was a substantial doubt
 about OPUS' ability to continue as a going concern.
     If you purchased OPUS securities during the class period, you may request
 that the Court appoint you as lead plaintiff by June 18, 2001.  A lead
 plaintiff is a representative party that acts on behalf of other class members
 in directing the litigation.  In order to be appointed lead plaintiff, the
 Court must determine that the class member's claim is typical of the claims of
 other class members, and that the class member will adequately represent the
 class.  Under certain circumstances, one or more class members may together
 serve as "lead plaintiff."  Your ability to share in any recovery is not,
 however, affected by the decision whether or not to serve as a lead plaintiff.
 
     Wolf Haldenstein has extensive experience in the prosecution of securities
 class actions and derivative litigation in state and federal trial and
 appellate courts across the country.  The firm has approximately 60 attorneys
 in various practice areas; and offices in Chicago, New Jersey, New York City,
 San Diego, and West Palm Beach.  The reputation and expertise of this firm in
 shareholder and other class litigation has been repeatedly recognized by the
 courts, which have appointed it to major positions in complex securities
 multi-district and consolidated litigation.
     If you wish to discuss this action or have any questions, please contact
 Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New
 York 10016, by telephone at (800) 575-0735 (Gregory M. Nespole, Esq., George
 Peters, Fred Taylor Isquith, Esq.), via e-mail at classmember@whafh.com or
 visit our website at http://www.whafh.com .  Your e-mail should refer to OPUS.
 
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
    NEW YORK, April 27 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz
 LLP announces that it filed a class action lawsuit in the United States
 District Court for the Southern District of New York, on behalf of purchasers
 of OPUS360 Corporation ("OPUS" or the "Company") (Nasdaq:   OPUS) at, or
 traceable to, Opus' April 7, 2000 initial public offering ("IPO") and through
 March 20, 2001, inclusive, against defendants OPUS, certain of its officers
 and directors, its underwriters, and certain selling shareholders.
     The case name and index number are Adenuga v. OPUS360 Corporation
 (01-CV-3547).  A copy of the complaint filed in this action is available from
 the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP
 website at www.whafh.com .
     The complaint alleges that defendants violated the federal securities laws
 by issuing false and misleading statements regarding OPUS' business and
 financial condition.
     Specifically, the complaint alleges that defendants failed to disclose,
 among other things, that:  (i) OPUS XCHANGE, a product that the Prospectus
 touted as a sophisticated professional matching and project management
 software system, was fatally flawed and could not perform many of the
 functions detailed in the Prospectus; and (ii) that OPUS had no basis for
 stating that the funds earned from the IPO would suffice to fund its
 aggressive expansion plan for at least 12 months following the IPO without
 additional financing.
     However, on March 20, 2001, OPUS filed its financial results for the year
 2000 with the SEC, on Form 10-K.  The 10-K contained a letter from KPMG, LLP,
 OPUS' outside auditors, which revealed that there was a substantial doubt
 about OPUS' ability to continue as a going concern.
     If you purchased OPUS securities during the class period, you may request
 that the Court appoint you as lead plaintiff by June 18, 2001.  A lead
 plaintiff is a representative party that acts on behalf of other class members
 in directing the litigation.  In order to be appointed lead plaintiff, the
 Court must determine that the class member's claim is typical of the claims of
 other class members, and that the class member will adequately represent the
 class.  Under certain circumstances, one or more class members may together
 serve as "lead plaintiff."  Your ability to share in any recovery is not,
 however, affected by the decision whether or not to serve as a lead plaintiff.
 
     Wolf Haldenstein has extensive experience in the prosecution of securities
 class actions and derivative litigation in state and federal trial and
 appellate courts across the country.  The firm has approximately 60 attorneys
 in various practice areas; and offices in Chicago, New Jersey, New York City,
 San Diego, and West Palm Beach.  The reputation and expertise of this firm in
 shareholder and other class litigation has been repeatedly recognized by the
 courts, which have appointed it to major positions in complex securities
 multi-district and consolidated litigation.
     If you wish to discuss this action or have any questions, please contact
 Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New
 York 10016, by telephone at (800) 575-0735 (Gregory M. Nespole, Esq., George
 Peters, Fred Taylor Isquith, Esq.), via e-mail at classmember@whafh.com or
 visit our website at http://www.whafh.com .  Your e-mail should refer to OPUS.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X43391657
 
 SOURCE  Wolf Haldenstein Adler Freeman & Herz LLP