FOX & KILSHEIMER LLP REPRESENTS INVESTORS IN CLAIMS AGAINST
LEGATO SYSTEMS, INC. AND OTHERS
NEW YORK - : If you purchased or otherwise acquired Legato Systems, Inc. common stock (NASDAQ:LGTO) between October 21, 1999 and January 19, 2000, inclusive,
(the "Class Period"), you may be entitled to participate in the Class Action lawsuit filed by Kaplan Fox & Kilsheimer LLP against Legato Systems, Inc. and the individuals mentioned below.
The lawsuit, filed in the District Court for the Northern District of California, charges Legato and the Individual Defendants (Louis C. Cole, Kent D. Smith, Stephen C. Wise and Nora M. Denzel) who controlled and
were senior officers of Legato, with violations of certain of the federal securities laws and regulations. The complaint alleges that during the Class Period the defendants engaged in a scheme to conceal Legato's
flagging growth in an effort to prevent a decline in the price of Legato stock in order to, among other things, (i) use Legato's artificially inflated stock as currency to fund the Company's acquisition of companies in
stock-for-stock transactions; and (ii) reap more than $11.7 million in insider trading proceeds. On January 19, 2000, Legato revealed that it would restate its third quarter earnings and would fall desperately
short of meeting its forecasted earnings for its 1999 fourth quarter. This revelation caused trading in Legato stock to be halted on NASDAQ and ultimately the stock plummeted to $29 per share in after-hours
trading, a decline of 63% from its Class Period high.
Plaintiff seeks to recover damages on behalf of the Class and is represented by Kaplan Fox & Kilsheimer LLP, which has many years of experience
in prosecuting investor class actions and actions involving financial fraud. For more information about Kaplan Fox & Kilsheimer LLP, 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 March 20,
2000, to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you have any questions about this Notice, the action, your rights, or your
interests, please e-mail us at mail@KaplanFox.com
Frederic S. Fox, Esq.
Adrienne L. Valencia, Esq
Hae Sung Nam, Esq.
Donald R. Hall, Esq.
Kaplan Fox & Kilsheimer LLP
Fax: (212) 687-7714
E-mail address: mail@KaplanFox.com
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