| Company: | Purchase Pro, Inc. |
| Ticker Symbol: | NASD: PPRO |
| Class Period: | March 20, 2000 through May 21, 2001 |
| Court: | Southern District, NY |
| Date Filed: | Feb-03-04 |
| Lead Plaintiff Deadline: | Apr-03-04 |
| Allegations: |
A Class Action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Purchase Pro, Inc. securities ((Nasdaq:PPRO) now known as Pro-After, Inc.) during the period from March 20, 2000 through May 21, 2001 (the "Class Period").
The Complaint charges AOL, America Online and certain of AOL's officers with violating the federal securities laws and/or state law by vastly overstating PPRO's revenues and earnings through a series of fraudulent transactions between PPRO and AOL.
The Complaint charges that each defendant violated Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and SEC Rule 10b-5. It also charges Robert Pittman (who was AOL's President and COO during the Class Period) and David Colburn (who was a senior officer of AOL during the Class Period) with violating Section 20(a) of the Exchange Act and charges America Online, Inc. and AOL Time Warner, Inc. with liability for the individual defendants' violations of the securities laws.
After the truth was revealed about the fraudulent deals between PPRO and AOL, the prices of PPRO's securities collapsed and PPRO filed for bankruptcy protection
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The Complaint charges AOL, America Online and certain of AOL's officers with violating the federal securities laws and/or state law by vastly overstating PPRO's revenues and earnings through a series of fraudulent transactions between PPRO and AOL.
The Complaint charges that each defendant violated Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and SEC Rule 10b-5. It also charges Robert Pittman (who was AOL's President and COO during the Class Period) and David Colburn (who was a senior officer of AOL during the Class Period) with violating Section 20(a) of the Exchange Act and charges America Online, Inc. and AOL Time Warner, Inc. with liability for the individual defendants' violations of the securities laws.
After the truth was revealed about the fraudulent deals between PPRO and AOL, the prices of PPRO's securities collapsed and PPRO filed for bankruptcy protection
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
If your injustice does not match the complaint described above, please use this form to register your complaint. Thank you.
