NEW YORK, Sept. 21 2004 LAWFUEL – Best class action, law, legal, attorney, law firm, legal research news Wolf Popper LLP has filed a securities
fraud class action complaint against Zix Corporation (“Zix”) (Nasdaq: ZIXI)
John A. Ryan, Daniel S. Nutkis and Steve M. York, on behalf of all persons who
purchased Zix securities on the open market from October 30, 2003, through May
4, 2004 (the “Class” and the “Class Period”). The complaint is available from
the U.S. District Court for the Northern District of Texas and on Wolf
Popper’s website (http://www.wolfpopper.com).
Prior to the Class Period Zix made a significant effort to increase its
revenue from sales of software that enables secure electronic communications
in the medical profession, particularly “e-prescribing” — a service that
would allow doctors to write prescriptions, access drug interaction
information and insurance formulary information using handheld devices and a
wireless internet connection. The complaint alleges that during the Class
Period defendants made repeated false statements about their success in
selling and implementing e-prescription software and services. Most
importantly, defendants misrepresented the number of physicians they had
deployed e-prescription service with and failed to disclose the numerous
problems that they knew of and which were preventing them from achieving their
stated sales and deployment goals.
On May 4, 2004, and thereafter, defendants’ fraud was revealed — causing
Zix stock price to plummet by over 50% from their May 3, 2004 closing price of
$14.43 per share to close on May 14, 2004 at $7.10 per share.
Wolf Popper has extensive experience representing shareholders in class
actions, recovering billions of dollars for defrauded investors and
shareholders. On May 10, 2004, Cornerstone Research, an independent
consulting firm, released a study showing that Wolf Popper LLP has the highest
median settlements as a percentage of estimated damages since 1996, of any
firm.
Any member of the Class who desires to be appointed lead plaintiff in the
class action must file a motion with the Court no later than November 2, 2004.
Class members must meet certain legal requirements to serve as a lead
plaintiff. If you have questions or information regarding this action, or if
you are interested in serving as a lead plaintiff, you may call or write:
James Harrod, Esq., Wolf Popper LLP, 845 Third Avenue, New York, NY
10022-6689 Tel.: 212.451.9642, Toll Free: 877.370.7703; Fax: 212.486.2093,
Toll Free Fax: 877.370.7704; email: irrep@wolfpopper.com; website:
http://www.wolfpopper.com
