Partners
Thomas G. Shapiro
Edward F. Haber
Thomas V. Urmy, Jr.
Michelle H. Blauner
Todd S. Heyman

Associates
Matthew L. Tuccillo
Ian J. McLoughlin
Adam M. Stewart
Robert E. Ditzion

SECURITIES FRAUD
 

Shapiro Haber & Urmy Files Class Action Suit Against Credit Suisse Boston for Misleading Analysts Reports

BOSTON, MA -- October 3, 2002 -- A class action suit alleging securities fraud has been filed in the United States District Court for the District of Massachusetts against Credit Suisse First Boston, a division of Credit Suisse Group (NYSE: CSR), ("Credit Suisse" or the "Company") and two of its technology analysts by the law firm of Shapiro Haber & Urmy LLP.

The case was filed on behalf of all persons who purchased common stock of Razorfish, Inc. (NASDAQ: RAZF) during the period from June 14, 1999 through July 20, 2001 (the "Class Period").

The complaint alleges that the defendants violated section 10(b) of the Securities Exchange Act of 1934 ("the Exchange Act"), and Rule 10b-5 promulgated thereunder, and Section 20(a) of the Exchange Act, by issuing a series of favorable research reports on Razorfish that were materially false or misleading in that they did not disclose conflicts of interest of Credit Suisse, and in particular the practice of Credit Suisse to gain lucrative investment banking business in part by providing coverage and issuing favorable research reports on prospective investment banking customers. According to news reports, an investigation conducted by the Secretary of State of the Commonwealth of Massachusetts uncovered "very troubling" internal Credit Suisse materials that "suggest . . . a pattern of breach of fiduciary duty" and which appear to have "treated investors like suckers". According to another news report, the Secretary of State has suggested that criminal charges be filed against Credit Suisse over its fraudulent stock research coverage.

Shapiro Haber & Urmy anticipates that it will be filing similar class action complaints on behalf of investors in the following companies, which were also the subject of favorable research reports by Credit Suisse. These companies include the following:

Accenture Ltd. (ACN)
Advanced Semiconductor Eng. (ASX)
Advent Software, Inc. (ADVS)
Agilent Technologies, Inc. (A)
Answerthink, Inc. (ANSR)
Applied Materials, Inc. (AMAT)
Applied Computer Technologies, Inc. (APLD)
Appnet, Inc.
Aptech Limited
Aris Corp.
ASAT Holdings Ltd. (ASTT)
ASE Test
Asustek/Yageo Corp.
ATI Technologies, Inc. (ATYT)
Atmel Corp. (ATML)
AU Optronics Corp. (AUO)
Avnet, Inc. (AVT)
Cambridge Technology Partners
Celestica, Inc. (CLS)
Chartered Semiconductor Mfg. (CHRT)
Chippac, Inc. (CHPC)
Ciber, Inc. (CBR)
Compeq Manufacturing Co.
Complete Business Solutions
Computer Sciences Corp. (CSC)
Covansys Corp. (CVNS)
Creative Technology Ltd. (CREAF)
Credence Systems Corp. (CMOS)
Delta Electronics (DLEUF)
Dupont Photomasks, Inc. (DPMI)
ELOYALTY Corp. (ELOY)
Evolve Software, Inc. (EVLV)
Faraday Technology Group
HCL Technologies
HNC Software
Hughes Software Systems, Ltd.
HYNIX Semiconductor (HXSCY)
Hyundai Electronics
Igate Corporation (IGTE)
Infosys Technologies Ltd (INFY).
Integrated Device Technology, Inc. (IDTI)
Integrated Circuit Systems, Inc. (ICST)
Intersil Corporation (ISIL)
Lante Corp. (LNTE)
Lattice Semiconductor Corp. (LSCC)
Macronix International Co. Ltd. (MXICY)
Manhattan Associates, Inc. (MANH)
MarchFirst, Inc. (MRCHQ)
Mastech Corp.
Mastek Ltd.(MSKDF)
Mediatek
Modem Media, Inc. (MMPT)
Nanya Technology Corp.
Naoussa Spinning Mills
NIIT Ltd.
NVIDIA Corp. (NVDA)
Palm, Inc. (PALM)
Pioneer Standard Electronics, Inc. (PIOS)
Plexus Corp. (PLXS)
Powerchip Semiconductor, Inc.
Pro Mos Technologies
Proxicom, Inc.
Radiant Systems, Inc. (RADS)
Rare Medium Group, Inc. (RRRR)
Razorfish, Inc. (RAZF)
Realtek Semiconductor Corp. (RLTQF)
Reynolds & Reynolds Corp. (REY)
Sanmina-SCI Corp. (SANM)
Sapient Corp. (SAPE)
Satyam Computer Services Ltd. (SAY)
Scient Corp. (SCNTQ)
Silicon Storage Technology Inc. (SSTI)
Siliconware Precision Industries (SPIL)
ST Assembly Test Services Ltd. (STTS)
STMicroelectronics (STM)
Sunplus Technology Company
Taiwan Semiconductor Manufacturing Co. (TSM)
Tanning Technologies Corp. (TANN)
Tatung, Co.
Tech Data Corp. (TECD)
Transaction Systems Architects, Inc. (TSAIE)
United Microelectronics Corp. (UMC)
USInternetworking, Inc. (USIQE)
UTSTARCOM, Inc. (UTSI)
Via Technologies
Viant Corp. (VIAN)
Visualsoft Ltd.
Whitman-Hart, Inc.
Winbond Electronics
WIPRO Ltd. (WIT)

Plaintiff seeks to recover damages suffered by class members and is represented by the law firm of Shapiro Haber & Urmy LLP, which has successfully prosecuted numerous securities class actions on behalf of defrauded investors. More information about the firm and its qualifications is available on the firm's website at www.shulaw.com.

If you purchased Razorfish stock during the Class Period of June 14, 1999 through July 20, 2001, and you suffered damages, you may wish to join the action.

If you would like a copy of the complaint or would like to inform us that you are a member of the proposed class, please contact Sophie Horowitz, Paralegal, Shapiro Haber & Urmy LLP, 53 State Street, Boston, MA 02109, (800) 287-8119, fax at (617) 439-0134, or email at cases@shulaw.com.

Case Status:  Settled for $3 million.









Home



Meet our Legal Team



About our Firm



Securities Fraud



Unfair Business Practices



Unlawful Employment Practices




Backdated Stock Options




Successful Litigations




Settlement Notices




FAQ



Report Fraud



Join a Case



Contact Us






Copyright © 2007 Shapiro Haber & Urmy LLP. All rights reserved