There is a new Class Action Lawsuit Commenced Against BEA Systems.
One of the claims:
that the Company's WebLogic 8.1 Platform was far from "revolutionary" and was not selling as defendants claimed
How can you quantify revolutionary btw?
More info:
The complaint charges BEA and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements to the investing public regarding BEA's business and prospects. As a result of these false statements, BEA's stock price traded at inflated levels during the Class Period, increasing to as high as $14 in early 2004, whereby the Company's top officers and directors sold more than $13 million worth of their own shares. Then on May 13, 2004, BEA reported disappointing first quarter results, citing the difficult selling environment and sales execution issues as the primary reasons. On this news, the Company's shares fell 30% to $8 per share.
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