Scott & Scott, LLC Announces Class Action Lawsuit Against Razorfish, Inc. and Its Officers and Directors
THURSDAY, DECEMBER 14, 2000 4:21 AM
- PRNewswire
COLCHESTER, Conn., Dec 14, 2000 /PRNewswire via COMTEX/ -- Scott & Scott, LLC, (nrothstein@scott-scott.com) a Connecticut-based law firm, filed suit in the United States District Court for the Southern District of New York on behalf of all persons who purchased the common stock of Razorfish, Inc. (Nasdaq: RAZF) from February 15, 2000 through October 5, 2000 (the "Class Period").
This case has been brought as a class action alleging violations of the Securities Exchange Act of 1934. The complaint alleges that each defendant, including certain officers and directors, is liable for making false and misleading statements and for participating in a fraudulent scheme and course of business that operated as a fraud on purchasers of Razorfish stock during the class period (2/15/00--10/5/00). The complaint further alleges substantive allegations concerning false and misleading statements during the class period culminating in a 43% drop in stock price to $5.00 per share on October 5, 2000 and, more dramatically, a 91% drop from $55.00 on October 15, 2000.
During the class period, the complaint alleges that insiders sold 1,215,716 shares of Razorfish stock reaping proceeds of $12,763,815.
If you wish to serve as lead plaintiff, you must petition the Court no later than February 11, 2000. If you wish to discuss this action or your rights regarding it or receive a copy of this complaint, please contact Neil Rothstein (nrothstein@scott-scott.com) or David R. Scott (drscott@scott-scott.com) by e-mail or call 619-338-3887 or toll free at 1- 800-404-7770.
Scott & Scott, LLC is a Connecticut-based law firm engaged in the representation of public and private companies, institutions, funds, individuals and other entities in complex litigation, transactions and trials. The firm's nationwide practice in the areas of securities, antitrust and consumer matters is founded upon its ongoing dedication to client satisfaction and communication. The firm's attorneys litigate in both federal and state courts throughout the nation on cases for clients worldwide.
If you would like to obtain more information about these cases and would like to discuss the matters above with an attorney, please contact: David R. Scott or Neil Rothstein at 1-800-404-7770 or e-mail at scottlaw@scott-scott.com
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