Class action filed against International Automated Systems.
SALT LAKE CITY--(BUSINESS WIRE)--July 8, 1996--A securities fraud class action was commenced on July 3, 1996, in the United States District Court United States District Court
The complaint charges IAS and its President, Neldon Johnson, with violations of the federal securities laws. Plaintiff specifically alleges that defendants artificially inflated the price of IAS common stock by issuing false and misleading statements regarding the company's introduction of a purportedly new and revolutionary communications technology called Digital Wave Modulation.
Plaintiff is represented by the law firms of Lowey Dannenberg Bemporad & Selinger, P.C. ("Lowey Dannenberg") and Parry Murray & Ward ("Parry Murray"). Lowey Dannenberg has specialized in complex litigation including corporate and securities class actions, for many years.
If you are a member of the Class described above, you may, not later than 60 days from today, move the Court to serve as lead plaintiff of the Class, if you so choose. In order 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, please contact Richard Bemporad, a partner in Lowey Dannenberg, in White Plains, New York and or Brent D. Ward, a partner in Parry Murray, in Salt Lake City, Utah at 801/521-3434.
CONTACT: Lowey Dannenberg Bemporad & Selinger, P.C., New York
Richard Bemporad, 914/997-0500
Parry Murray & Ward, Salt Lake City
Brent D. Ward, 801/521-3434