Aspec Technology, Inc. Summary: According to a Press Release dated June 30, 1998, the Complaint asserts claims under the federal securities laws, including claims for violation of Sections 11, 12(a)(2) and 15 of the Securities Exchange Act of 1933. The lawsuit alleges that Aspec and certain of its key officers and directors engaged in a scheme and common plan to defraud by artificially inflating the market price of Aspec common stock during the Class Period by failing to disclose material process technology changes from customers which would materially adversely affect gross profit margin during the second quarter of 1998 and thereafter.
On October 16, 1998, U.S. District Judge Vaughn R. Walker dismissed the action without prejudice and without costs.
SIC Code: 7372
Industry: Software & Programming
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