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Company:	SureBeam Corporation
Ticker Symbol:	NASD: SUREE
Class Period:	March 16, 2001 to August 20, 2003
Court:	Southern District, CA
Date Filed:	Sep-02-03
Lead Plaintiff Deadline:	Oct-27-03
Allegations:

A Class Action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of a class (the "Class") of all persons who purchased or acquired securities of SureBeam Corporation ("SureBeam" or the "Company") (Nasdaq:SUREE) between March 16, 2001 and August 20, 2003 inclusive (the "Class Period").

The Complaint names as defendants SureBeam Corporation, Lawrence A. Oberkfell and David A. Rane. The Complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market during the Class Period thereby artificially inflating the price of SureBeam securities.

The complaint alleges that during the Class Period defendants caused SureBeam to report in its public filings, press releases and other public statements favorable financial results by, among other things, artificially inflating the Company's revenue and earnings by improper revenue recognition practices. This inflation allowed SureBeam to raise net proceeds of $60 million and to complete an initial public offering ("IPO") of 6.7 million shares on March 16, 2001. On July 30 and August 12, 2003, Surebeam issued press releases stating that the Company was delaying the release of its second quarter earnings. On August 21, 2003, Surebeam issued a press release stating that Deloitte & Touche, LLP, SureBeam's independent auditor for 2003, had raised issues involving "certain aspects of SureBeam's revenue recognition policies and certain contracts entered into in 2000 and affecting subsequent periods." On this news Surebeam's stock dropped to $1.55 per share.

If you acquired the securities of SureBeam Corporation during the Class Period you may, no later than October 27, 2003, 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.