FOX & KILSHEIMER LLP ANNOUNCES CLASS ACTION SUIT AGAINST OMTOOL,
NEW YORK - , Kaplan Fox & Kilsheimer LLP has filed a Class Action lawsuit against Omtool, Ltd. ("Omtool") (NASDAQ: OMTL) and certain of its officers and directors in the
United States District Court for the District of New Hampshire. The suit is brought on behalf of all persons or entities who purchased or otherwise acquired the common stock of Omtool between August 8,
1997 and October 6, 1998, inclusive (the "Class Period").
The Complaint charges Omtool and certain of its top officers and directors with violations of the securities laws and regulations of the
United States. The complaint alleges that the defendants knowingly or recklessly misled investors. During the Class Period, defendants caused or permitted Omtool to issue and sell, by means of a public
offering, 4 million shares (including over-allotments) of Omtool common stock at a price of $9 per share throughout the Class Period, which allowed the Company to report materially inflated revenue and earnings.
After the IPO, Omtool's stock traded as high as $14-3/4 per share. The Class Period ends on October 6, 1998, the day the Company stunned the financial community by announcing that its financial
results for the quarter ended September 30, 1998 would be poor and the stock declined to $1.6875 per share on the day following the disclosure. Defendants' false and misleading statements artificially inflated the
price of Omtool common stock during the Class Period.
Plaintiff seeks to recover damages on behalf of the Class and is represented by Kaplan Fox & Kilsheimer LLP, which has over thirty
years of experience in prosecuting investor class actions and actions involving financial fraud. For more detailed information about the firm you may visit our website at www.KaplanFox.com.
If you are a member of the Class, you may move the Court, no later than 60 days from today to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain
legal requirements. Please contact us if you have any questions about this Notice, the action, your rights, or your interests, e-mail us at mail@KaplanFox.com or call us at (800) 290-1952:
Robert N. Kaplan, Esq.
Adrienne L. Valencia, Esq.
Donald R. Hall, Esq. Richard B. Drubel, Esq.
Kimberly Schultz, Esq.
Kaplan Fox & Kilsheimer LLP
Fax: (212) 687-7714
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