Verisign is a Very Bad Company
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Verisign is a Very Bad Company
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Losangelesnews.com
also suggests that all domestic , foreign company CEO,CFO
and the entire management business activity be audited for the past 5 years for possibility of business
fraud and misconduct to boost their stock prices and for possibility of taking bribes under the table. Most of these
companies hide their money in banks overseas where they pay no taxes (Country
Belize) under phony company names.
Most brokerage houses and their brokers have a monopoly going with corporation Bosses
(Check their Domestic and overseas bank accounts)
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Wednesday June 26, 2:12 pm Eastern Time
Press Release
SOURCE: Glancy & Binkow LLP
Glancy & Binkow LLP Announces Class Action Lawsuit Against VeriSign, Inc.
LOS ANGELES--(BUSINESS WIRE)--June 26, 2002--Notice is hereby given that
Glancy & Binkow LLP commenced a Class Action lawsuit in the United States
District Court for the Northern District of California on behalf of a class
(the "Class") consisting of all persons who purchased securities of
VeriSign, Inc. ("VeriSign" or the "Company") (Nasdaq: VRSN - News) between
January 25, 2001 and April 25, 2002, inclusive (the "Class Period").
The Complaint charges VeriSign and certain of its officers and directors with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and the dissemination of materially false and misleading statements regarding the nature of VeriSign's financial results caused the Company's stock price to become artificially inflated, inflicting enormous damages on investors. The complaint alleges that during the Class Period, defendants sought to artificially increase the Company's revenue and margins and to create the perception that its deferred revenue growth was derived organically. In fact, approximately 10% of VeriSign's revenue was derived from sales to small companies in which VeriSign had invested and from dubious "barter transactions."
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy & Binkow LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court,
not later than July 16, 2002, to serve as lead plaintiff, however, you must
meet certain legal requirements. If you wish to discuss this action or have
any questions concerning this Notice or your rights or interests with
respect to these matters, please contact Michael Goldberg, Esquire, of
Glancy & Binkow LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles,
California 90067
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