Versata

On May 2, 2001, Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of all purchasers of Versata, Inc. ("Versata" or the "Company")(NASDAQ:VATA) securities during the period between March 2, 2000 and March 29, 2001, inclusive (the "Class Period"), including those who acquired their shares in connection with the Company's Initial Public Offering on March 2, 2000, against Versata and certain of its officers and directors. If you wish to read the current complaint please click the Complaint link. The complaint alleges that the defendants violated federal securities laws by issuing false and misleading statements. Versata provides a comprehensive suite of software and services that enable its customers to rapidly deploy e-business software applications that can be modified quickly to meet constantly changing business requirements. The complaint charges Versata and certain of its officers and directors with issuing false and misleading information regarding its business and financial condition, reporting favorable but false financial results causing its stock to trade at artificially inflated levels. Then, defendants announced on March 29, 2001, that its reported financial statements were under investigation, causing Versata's shares to plummet. Additional cases were filed on behalf of investors. On June 10, 2001, motions were made for the appointment of lead plaintiff and counsel. On August 22, 2001, the Court appointed lead plaintiffs and counsel. A consolidated complaint was filed with the Court. On February 19, 2003, the judge dismissed the case with prejudice. Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 60 attorneys in various practice areas; and offices in Chicago, New Jersey, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735. Finally, we would like to provide you with additional information from time to time. If you would like to receive such information, please fill in and submit the shareholder registration form.