Two More Against L90
Mar 28, 2002, 12:00 AM
The Law Firm of Cauley Geller Bowman & Coates, LLP and the law firm of Schiffrin & Barroway, LLP announced today that both have filed class action lawsuits in the United States District Court for the Central District of California on behalf of purchasers of L90, Inc. common stock during the period between July 26, 2001 and March 12, 2002. Both complaints charge L90 and certain of its officers and directors with violations of the Securities Exchange Act of 1934. This is the fourth and fifth class action suits filed against L90 and some of its officers and directors in the past two weeks. All five actions allege that L90 violated federal securities laws by issuing false and misleading information regarding the company's financial condition, misrepresented its true prospects and overstated revenues and assets in violation of Generally Accepted Accounting Principles. All five cases are pending in the United States District Court for the Central District of California.