Screaming Penguin

A group of Corel stockholders has filed a class action lawsuit against the company. The suit alleges that Corel has mishandled earnings reports intentionally and has purposely deflated the value. I am not quite sure exactly what the alleged motive is (by cheap sell high, that simple) but the suit is serious business. Lets hope that the allegations are not true, and that Corel rebounds on its own. Corel has put its own stock in Linux, if Linux makes the inroads predicted, Corel will climb into the black. Today CORL opened at 10.375 or so and it ended the day up after high volume at 11.something or other. The company and the stock is still hot despite 5 consecutive quarters of reported losses. At that price, I think it still makes sense to buy some serious potential (investment advice not professional, do your own homework, my investing advice track record is generally poor, oh well.) DETAILS DIRECT FROM PRESSWIRE: Including how to join the litigants if you purchased Corel stock during the class period (December 7, 1999 - December 21, 1999), plus other contact and eligibilty information. NEW YORK, March 28 /PRNewswire/ -- On March 28, 2000, Wolf Haldenstein Adler Freeman & Herz LLP and the Law Offices of Lawrence E. Feldman & Associates filed a class action lawsuit in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who bought Corel Corporation (Nasdaq: CORL) ("Corel" or the "Company") stock between December 7, 1999 and December 21, 1999, inclusive (the "Class Period"). The lawsuit charges Corel and its CEO, Michael C.J. Cowpland, with violations of the securities laws and regulations of the United States. The complaint alleges that defendants issued a series of false and misleading statements concerning the Companys fourth quarter 1999 results. Specifically, Corel is alleged to have misled the market concerning the fact that it had sustained large losses. Upon the announcement that results for the fourth quarter of 1999 would be significantly below estimates, the Companys stock price plunged 28% on extraordinarily heavy trading volume. Plaintiff seeks to recover damages on behalf of all class members and is represented by the law firms of Wolf Haldenstein Adler Freeman & Herz LLP (http://www.whafh.com) and the Law Offices of Lawrence E. Feldman & Associates (http://www.leflaw.com). The Wolf Haldenstein firm has a full service commercial practice consisting of more than 35 attorneys based in New York City and San Diego. The firms litigation department has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities laws, class actions and shareholder litigation. The firms qualifications have repeatedly received very favorable judicial recognition. The firm has achieved recoveries of over one billion dollars on behalf of investors and shareholders. If you purchased Corel stock during the Class Period, you have 60 days from March 14, 2000 to participate in the case and ask the Court to appoint you as one of the lead plaintiffs for the Class. In order to serve as lead plaintiff, you must meet certain legal requirements. If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at 800-575-0735 (Michael Miske, Gregory Nespole, Esq., Fred Taylor Isquith, Esq. or Shane T. Rowley, Esq.), via e-mail at classmember@whafh.com or whafh@aol.com or visit our website at http://www.whafh.com. All e-mail correspondence should make reference to Corel. Contact: Michael Miske, Gregory Nespole, Esq., Fred Taylor Isquith, Esq. or Shane T. Rowley, Esq., all of Wolf Haldenstein Adler Freeman & Herz LLP, 800-575-0735, or whafh@aol.com or classmember@whafh.com. Ok if any type of fraud has occured, more power to the attorneys. However, lawyers with websites is a scary proposition in and of itself (sorry lawyer bash intended, but commentary not neccessary.)   TechWeb: Corel Lawsuit