| Company: | Zix Corporation |
| Ticker Symbol: | NASD: ZIXI |
| Class Period: | October 30, 2003 to May 4, 2004 |
| Date Filed: | Sep-07-04 |
| Lead Plaintiff Deadline: | Nov-02-04 |
| Court: | Northern District, TX |
| Allegations: |
A lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Texas on behalf of all persons who purchased the securities of Zix Corporation (Nasdaq: ZIXI) between October 30, 2003 and May 4, 2004 (the "Class Period").
The Complaint alleges that Zix disseminated materially false and misleading statements regarding its business and prospects. In particular, the Complaint alleges that Zix concealed the fact that it was experiencing sluggish doctor adoption to "e-prescribing." The Complaint further alleges that claims that Zix would achieve 1,000 deployed active doctors by the end of Q4 2003 was false and misleading because physicians would be required to reconfigure their patient data, obtain wireless coverage and implement a wireless network, severely undercutting physician acceptance and deployment. Furthermore, the Complaint alleges that Zix's claim that it had 4,000 deployments already on order was false because, at the time of claim, the physicians' sites had not been surveyed to evaluate wireless/LAN needs. Finally, the Complaint alleges that new offerings from Zix's Elron acquisition were delayed as a result of integration problems.
. On May 4, 2004, Zix announced its results for Q1 2004 which included a larger than expected loss. On this news, Zix shares fell from an opening of $14.25 per share on May 4, 2004 to close at $8.89 per share on May 6, 2004.
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 alleges that Zix disseminated materially false and misleading statements regarding its business and prospects. In particular, the Complaint alleges that Zix concealed the fact that it was experiencing sluggish doctor adoption to "e-prescribing." The Complaint further alleges that claims that Zix would achieve 1,000 deployed active doctors by the end of Q4 2003 was false and misleading because physicians would be required to reconfigure their patient data, obtain wireless coverage and implement a wireless network, severely undercutting physician acceptance and deployment. Furthermore, the Complaint alleges that Zix's claim that it had 4,000 deployments already on order was false because, at the time of claim, the physicians' sites had not been surveyed to evaluate wireless/LAN needs. Finally, the Complaint alleges that new offerings from Zix's Elron acquisition were delayed as a result of integration problems.
. On May 4, 2004, Zix announced its results for Q1 2004 which included a larger than expected loss. On this news, Zix shares fell from an opening of $14.25 per share on May 4, 2004 to close at $8.89 per share on May 6, 2004.
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.
