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SECURITIES FRAUD
Shapiro Haber & Urmy Files Class
Action on Behalf of Purchasers of
Muse Technologies, Inc.
A class action suit alleging
securities fraud has been filed
in the United States District
Court for the District of
Massachusetts against Muse
Technologies, Inc. ("Muse" or
the "Company") and certain of
its officers and directors by
the law firm of Shapiro Haber &
Urmy LLP.
The case was filed on behalf of
all persons who purchased Muse
common stock on the open market
during the period beginning on
January 24, 2000 through February
21, 2001, inclusive (the "Class
Period").
The
Complaint alleges that the
defendants engaged in a plan to
inflate the price of Muse common
stock by misstating and/or
concealing material information
concerning the Company’s financial
condition. Defendants falsely
reported that none of the Company’s
current assets consisted of
securities when as significant
portion of the Company’s current
assets had secretly been invested in
high-risk securities in a Merrill
Lynch account which lost 85% of
their value. Muse filed a 10-Q said
that no money was invested in
securities. This was signed by Gangi
and Clark. Defendants acted with
scienter (knowledge) in that they
knew that the public documents and
statements were materially false and
misleading.
If you 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.
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