Douglas R. Britton
WEISS & YOURMAN
618 S. Sixth Street
Las Vegas, NV 89101
(702) 598-4900
Kevin J. Yourman (147159)
James E. Tullman (175008)
WEISS & YOURMAN
10940 Wilshire Blvd., 24th Floor
Los Angeles, CA 90024
(310) 208-2800
Edward P. Dietrich (176118)
STULL, STULL & BRODY
10940 Wilshire Blvd., Suite 2300
Los Angeles, CA 90024
(310) 209-2468
Attorneys for Plaintiff
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA
GORDON TOWNSEND, On Behalf of ) CV-S-97-01848-DWH (RJJ)
Himself and All Others Similarly Situated, ) ) CLASS ACTION COMPLAINT FOR
Plaintiff, ) VIOLATIONS OF THE FEDERAL
) SECURITIES LAWS
v. ) [filed Dec. 17, 1997]
)
ACRES GAMING, JOHN F. ACRES, ) JURY TRIAL DEMAND
JOSEPH A. HUSEONICA, AND ROBERT )
W. BROWN, ) )
Defendants. )
____________________________________ )
Plaintiff, through his attorneys, brings this action on behalf of himself and all others similarly
situated, and on personal knowledge as to himself and his activities, and on information and
belief as to all other matters, based on investigation conducted by counsel, hereby alleges as
follows:
NATURE OF THE ACTION
SNIPPETS:
Attorneys for Plaintiff
This action is being brought as a class action on behalf of all individuals, other than
As is more fully alleged below, this action arises from a scheme and common course of conduct
As a result of defendants' false statements, misrepresentations and omissions regarding the
Specifically, despite months of repeatedly disseminating optimistic statements regarding its
ietary products.
Had plaintiff and the other Class members been aware that the Company lacked the ability and
This Court has jurisdiction over the subject matter of this action pursuant to 28 U.S.C.
Acres is also incorporated in this district and, from the beginning of the Class Period, was
At all relevant times throughout the Class Period, Acres common stock was traded in an
At all times relevant hereto, defendant Joseph A. Huseonica was President, Chief Operating
It is also appropriate to treat the Individual Defendants as a group for pleading purposes
releases and/or statements disseminated to the investing public and Acres shareholders during
The Company offers products in four major categories: Bonusing; Slot accounting/player
The Company's products are based on its proprietary bonusing technology and are designed to
The slot accounting products collect, analyze and report data to casino managers to satisfy
Player tracking systems allow a casino to monitor the playing patterns of individual players
However, when the Company announced the potential for a strategic alliance with IGT, which is
Contrary to defendants' glowing representations concerning Acres' current business condition
President of Acres Gaming.
"We have completed additional bonusing system game installations in Nevada and have received
"Although our revenues and operating results fell short of our goals, we are pleased with the
The Street reacted to the excitement of the company and its technology, and ran the stock up
We expect the IGT Vision game to be a particularly important platform on which to place our
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