FOX & KILSHEIMER LLP SEEKS TO RECOVER LOSSES
FOR INVESTOR WHO PURCHASED
VARI-L COMPANY, INC. COMMON STOCK
NEW YORK - - The following statement was issued
today by the law firm of Kaplan Fox & Kilsheimer LLP:
Vari-L Company Inc. ("Vari-L" or the "Company") (Nasdaq: VARL) and certain of its officers and directors, were named as defendants in a
shareholder class action filed in the United States District Court for the District of Colorado. The action, seeks damages for violations of the federal securities laws on behalf of all investors who purchased
Vari-L common stock between December 17, 1997 and July 6, 2000, inclusive (the "Class Period"). The action seeks to recover for investors the amount they overpaid for their common stock, which traded as high as
$26 per share during the Class Period.
On May 17, 2000, Vari-L revealed that it would be restating its previously reported financial results for the period ended December 31, 1997, and potentially other
periods as well. On July 7, 2000, the Company announced that its auditors had resigned because they felt they could no longer rely on management's representations. The lawsuit charges that Vari-L was issuing
false and misleading financial statements during the class period, and that Company insiders sold approximately $11 million in common stock knowing that the financial statements were overstated.
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 August 9, 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 purchased Vari-L common stock during Class Period and suffered a loss on your investment, you may wish to contact Kaplan Fox & Kilsheimer LLP
at mail@KaplanFox.com or contact:
Frederic S. Fox, Esq.
Christine M. Comas, Esq.
Hae Sung Nam, Esq.
Kaplan Fox & Kilsheimer LLP
805 Third Avenue – 22nd Floor
New York, NY 10022
Fax: (212) 687-7714
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