Another Class Action Lawsuit Filed Against iPrint Technologies
Press release from the issuing company
NEW YORK--June 22, 2001--The law firm of Milberg Weiss Bershad Hynes & Lerach LLP announces that a class action lawsuit was filed on June 22, 2001, on behalf of purchasers of the securities of iPrint Technologies, Inc. ("iPrint'' or the "Company'') between March 8, 2000 and December 6, 2000, inclusive.
The action, captioned Stoshak v. iPrint, Inc. et al., 01 CV 5748, is pending in the United States District Court, Southern District of New York, located at 500 Pearl Street, New York, NY against defendants IPrint, Credit Suisse First Boston Corporation ("Credit Suisse''), FleetBoston Robertson Stephens ("Robertson Stephens''), Royal P. Farros and James P. McCormick.
The complaint alleges violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about March 8, 2000, iPrint commenced an initial public offering of 4,500,000 of its shares of common stock at an offering price of $10 per share (the "iPrint IPO''). In connection therewith, iPrint filed a registration statement, which incorporated a prospectus (the "Prospectus''), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) Credit Suisse and Robertson Stephens had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Credit Suisse and Robertson Stephens allocated to those investors material portions of the restricted number of iPrint shares issued in connection with the IPrint IPO; and (ii) Credit Suisse and Robertson Stephens had entered into agreements with customers whereby Credit Suisse and Robertson Stephens agreed to allocate iPrint shares to those customers in the iPrint IPO in exchange for which the customers agreed topurchase additional iPrint shares in the aftermarket at pre-determined prices.
If you bought the securities of iPrint between March 8, 2000 and December 6, 2000, you may, no later than August 13, 2001, request that the Court appoint you as lead plaintiff. 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. You may retain Milberg Weiss Bershad Hynes & Lerach LLP, or other counsel of your choice, to serve as your counsel in this action.
Milberg Weiss Bershad Hynes & Lerach LLP, a 170-lawyer firm with offices in New York City, San Diego, San Francisco, Los Angeles, Boca Raton, Seattle and Philadelphia, is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of World War II and other human rights violations, and has been responsible for more than $30 billion in aggregate recoveries. The Milberg Weiss Web site (http://www.milberg.com) has more information about the firm.
WhatTheyThink is the global printing industry's go-to information source with both print and digital offerings, including WhatTheyThink.com, WhatTheyThink Email Newsletters, and the WhatTheyThink magazine. Our mission is to inform, educate, and inspire the industry. We provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today's printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.