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LITTLE ROCK, Ark.--(BUSINESS WIRE)--Nov. 14, 2001--The Law Firm of Cauley Geller Bowman & Coates, LLP announced today that a class action has been filed in the United States District Court for the District of Vermont on behalf of purchasers of Sirius Satellite Radio, Inc. ("Sirius" or the "Company") (NASDAQ:SIRI) common stock during the period between February 17, 2000 and April 2, 2001, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at www.classlawyer.com/pr/sirius.pdf.
The complaint charges Sirius and certain of its officers and directors with violating the federal securities laws by failing to disclose facts known to them, or recklessly disregarded by tem, which demonstrated that the announced commercial launch dates for the Company's satellites required for the Company's service, published throughout the Class Period, were impossibly ambitious. Defendants knew, or recklessly disregarded, that it would be possible for the Company to offer its service commercially by the end of 2000, as initially disclosed, or early in 2001, as subsequently disclosed. The complaint alleges that at all times during the Class Period defendants issued materially false and misleading statements and press releases concerning when the Company's service would be commercially available, which caused the market price of Sirius common stock to be artificially inflated. When the truth about Sirius' business was revealed to the public, the price of Sirius common stock dropped precipitously, causing Plaintiff and the Class to suffer substantial damages.
If you bought Sirius common stock between February 17, 2000 and April 2, 2001 inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2001. If you are a member of this class, you can join this class action online at www.classlawyer.com/sign_up.html. Any member of the purported class may move the Court to serve as lead plaintiff through Cauley Geller Bowman & Coates, LLP or other counsel of their choice, or may choose to do nothing and remain an absent class member.
Cauley Geller Bowman & Coates, LLP has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Florida, Arkansas and California, but represents investors throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm or visit the Firm's website at www.classlawyer.com.
The complaint charges Sirius and certain of its officers and directors with violating the federal securities laws by failing to disclose facts known to them, or recklessly disregarded by tem, which demonstrated that the announced commercial launch dates for the Company's satellites required for the Company's service, published throughout the Class Period, were impossibly ambitious. Defendants knew, or recklessly disregarded, that it would be possible for the Company to offer its service commercially by the end of 2000, as initially disclosed, or early in 2001, as subsequently disclosed. The complaint alleges that at all times during the Class Period defendants issued materially false and misleading statements and press releases concerning when the Company's service would be commercially available, which caused the market price of Sirius common stock to be artificially inflated. When the truth about Sirius' business was revealed to the public, the price of Sirius common stock dropped precipitously, causing Plaintiff and the Class to suffer substantial damages.
If you bought Sirius common stock between February 17, 2000 and April 2, 2001 inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2001. If you are a member of this class, you can join this class action online at www.classlawyer.com/sign_up.html. Any member of the purported class may move the Court to serve as lead plaintiff through Cauley Geller Bowman & Coates, LLP or other counsel of their choice, or may choose to do nothing and remain an absent class member.
Cauley Geller Bowman & Coates, LLP has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Florida, Arkansas and California, but represents investors throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm or visit the Firm's website at www.classlawyer.com.
