USA: MicroStrategy Shareholders Have Only 9 Days Left to Move to Serve as Lead Plaintiff According to Schiffrin & Barroway, LLP
The following statement was issued today by the law firm of Schiffrin & Barroway, LLP: Earlier this year, investors represented by Schiffrin & Barroway, LLP filed a class action lawsuit in the United States District Court for the Eastern District of Virginia on behalf of all purchasers of the common stock of MicroStrategy Incorporated (Nasdaq: MSTR) from June 11, 1998 through March 20, 2000, inclusive (the "Class Period"). If you purchased the common stock of MicroStrategy during the Class Period, you may be qualified to serve as one of the lead plaintiff's for this action. Under the Private Securities Litigation Reform Act of 1995, there is a presumption that the investor with the largest financial losses should serve as the lead plaintiff in a Federal securities fraud action. If you are a member of the class described above, you may, not later than May 19, 2000, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. The complaint charges MicroStrategy and certain of its officers and directors with reporting materially false and misleading financial results throughout the Class Period. During 1998 and 1999, defendants significantly overstated MicroStrategy's revenues and earnings per share by improperly recognizing revenue in connection with software sales/service contracts. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, LLP, who has significant experience and expertise prosecuting class actions on behalf of investors and shareholders. For more information on Schiffrin & Barroway, please visit our website at
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