Wolf Haldenstein Adler Freeman and Herz LLP Commences JNI Class Action

Apr 10, 2001, 01:00 ET from Wolf Haldenstein Adler Freeman & Herz LLP

    NEW YORK, April 10 /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 California, on behalf of
 purchasers of the securities of JNI Corporation ("JNI" or the "Company")
 (Nasdaq: JNIC) who purchased the Company's common stock between October 16,
 2000, and January 24, 2001, inclusive, against JNI and certain of its officers
 and directors.
     The case name and index number are Ford v. JNI (01-CV0618 L).  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
 http://www.whafh.com.
     The complaint alleges that JNI and certain of its officers and directors
 violated federal securities laws.
     JNI, based in San Diego, California, designs and supplies Fibre Channel
 hardware and software products that connect servers and data storage devices
 to form storage area networks "SANs."  The Company markets high-performance
 application-specific integrated circuits, a broad range of Fibre Channel host
 bus adapters, and software that facilitates advanced SAN device integration
 and management.  The company has offices throughout the United States and
 Munich, Germany.
     The complaint alleges that during the class period, JNI made false and
 misleading statements about its business and results causing its stock to
 trade at artificially inflated levels.  As a result of this inflation, JNI was
 able to complete a $382 million stock offering.  Then, on January 24, 2001,
 JNI reported lower than expected results causing the stock to drop on
 extraordinary volume.  On January 25, 2001, JNI's stock price dropped to
 $20.0625 per share, or 84% below its Class Period high of $126 and 73% below
 the secondary offering price of $74.  The stock has continued to decline since
 the end of the Class Period, dropping to below $7 per share.
     If you purchased JNI securities during the class period, you may request
 that the Court appoint you as lead plaintiff by June 1, 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, Michael Miske, Fred Taylor Isquith, Esq.), via e-mail at
 classmember@whafh.com or visit our website at http://www.whafh.com
 
 

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
    NEW YORK, April 10 /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 California, on behalf of
 purchasers of the securities of JNI Corporation ("JNI" or the "Company")
 (Nasdaq: JNIC) who purchased the Company's common stock between October 16,
 2000, and January 24, 2001, inclusive, against JNI and certain of its officers
 and directors.
     The case name and index number are Ford v. JNI (01-CV0618 L).  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
 http://www.whafh.com.
     The complaint alleges that JNI and certain of its officers and directors
 violated federal securities laws.
     JNI, based in San Diego, California, designs and supplies Fibre Channel
 hardware and software products that connect servers and data storage devices
 to form storage area networks "SANs."  The Company markets high-performance
 application-specific integrated circuits, a broad range of Fibre Channel host
 bus adapters, and software that facilitates advanced SAN device integration
 and management.  The company has offices throughout the United States and
 Munich, Germany.
     The complaint alleges that during the class period, JNI made false and
 misleading statements about its business and results causing its stock to
 trade at artificially inflated levels.  As a result of this inflation, JNI was
 able to complete a $382 million stock offering.  Then, on January 24, 2001,
 JNI reported lower than expected results causing the stock to drop on
 extraordinary volume.  On January 25, 2001, JNI's stock price dropped to
 $20.0625 per share, or 84% below its Class Period high of $126 and 73% below
 the secondary offering price of $74.  The stock has continued to decline since
 the end of the Class Period, dropping to below $7 per share.
     If you purchased JNI securities during the class period, you may request
 that the Court appoint you as lead plaintiff by June 1, 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, Michael Miske, Fred Taylor Isquith, Esq.), via e-mail at
 classmember@whafh.com or visit our website at http://www.whafh.com
 
 SOURCE  Wolf Haldenstein Adler Freeman & Herz LLP