iPrint Technologies to Contest Class Action Lawsuit Related to Initial Public Offering
Press release from the issuing company
MENLO PARK, Calif.- June 14, 2001--iPrint Technologies, inc., the leading online printing technology and infrastructure provider, today reported that it has become aware that a purported class action lawsuit has been filed against the Company, a current director and officer and a former officer as well as certain underwriters of its March 7, 2000 initial public offering, alleging violations of federal securities law regarding the company's initial public offering. The case is pending in the United States District Court for the Southern District of New York.
The Company has yet to be served with a copy of the complaint. Based on plaintiff's description of the complaint, it appears to be similar in nature to cases filed against numerous other companies in the same Court, alleging violations regarding the initial public offerings of those companies. iPrint believes that the lawsuit and the claims asserted against it are without merit and intends to vigorously defend against the claims.
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