FOX & KILSHEIMER LLP FILES SECURITIES
FRAUD CLASS ACTION AGAINST UNIFY CORPORATION.
YORK – - Kaplan Fox & Kilsheimer LLP (www.KaplanFox.com) has filed
a Class Action against Unify Corp. and certain of the Company's
officers and directors in the United States District Court for the
Northern District of California. The suit is brought on behalf
of all persons or entities who purchased the common stock of Unify
Corporation ("Unify" or the "Company") (Nasdaq:
between May 19, 1999 through July 28, 2000.
The complaint charges Unify and certain of its officers
and directors with violations of the Securities Exchange Act of
1934. Specifically, the complaint alleges that starting in early
1999, the individual defendants caused Unify to issue false financial
results and make false statements about its results and demand for
its new products, including Unify e-Wave, causing its stock to trade
at artificially inflated levels. Defendants took advantage of this
inflation by selling 700,288 of their personal Unify shares for
proceeds exceeding $7.8 million.
On July 31, 2000, Unify issued a press release disclosing that
the Company had engaged in improper accounting and admitted that
its fiscal 1999 and fiscal 2000 results had been false, that portions
of its previously reported revenues had been ``improperly recognized,''
and that its top two officers had been placed on ``administrative
leave.'' On these shocking disclosures, Unify's stock trading was
halted, after last trading at $3-15/16 -- significantly lower than
its Class Period high of $37 1/2 (split-adjusted).
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 September 29, 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.
Christine Fox, Esq.
Brigid T. Kavanaugh, Esq.
Kaplan Fox & Kilsheimer LLP
805 Third Avenue - 22nd Floor
New York, NY 10022
Fax: (212) 687-7714
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