UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
GERALD PLATTS, on behalf of himself and all :
others similarly situated, :: Index No.
Plaintiff, :: CLASS ACTION COMPLAINT
FOR VIOLATIONS OF THE
vs. :: FEDERAL SECURITIES
LAWS
BANCBOSTON ROBERTSON STEPHENS, INC., ::
Defendant. ::
Plaintiff, by his undersigned attorneys, individually and on behalf of the Class described
below, upon information and belief, based upon, inter alia, the investigation of counsel, which
includes, among other things, a review of public announcements made by defendant, Securities
and Exchange Commission ("SEC") filings made by defendant, and press releases, and media
reports, except as to the paragraph applicable to the named plaintiff which is alleged upon
personal knowledge, brings this Complaint (the "Complaint") against the defendant named
herein, and alleges as follows:
SUMMARY OF ACTION
1. This is a securities class action alleging that the Registration Statement dated
December 13, 1998 and the Prospectus dated December 16, 1998 for the issuance and initial
public offering of 3,100,000 shares of Concur Technologies, Inc. ("Concur" or the "Company")
common stock, contained material misrepresentations and/or omissions. The Registration
Statement and Prospectus are referred to herein collectively as the "Prospectus."
2. Concur describes itself as a leading provider of Intranet-based employee-facing
applications that extend automation to employees throughout the enterprise and to partners,
vendors and service providers in the extended enterprise. Its principal place of business is
located at 6222 185th Avenue NE, Redmond, Washington 98052. Defendant is an underwriter of
the Offering, who engaged in a pattern of conduct to surreptitiously extract inflated commissions
SNIPPETS:
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
Plaintiff, by his undersigned attorneys, individually and on behalf of the Class described
includes, among other things, a review of public announcements made by defendant, Securities
and Exchange Commission filings made by defendant, and press releases, and media
This is a securities class action alleging that the Registration Statement dated
December 13, 1998 and the Prospectus dated December 16, 1998 for the issuance and initial
public offering of 3,100,000 shares of Concur Technologies, Inc.
common stock, contained material misrepresentations and/or omissions.
the Offering, who engaged in a pattern of conduct to surreptitiously extract inflated
greater than those disclosed in the Offering materials,
of the Securities Exchange Act of 1934,
Plaintiff Gerald Platts purchased shares of Concur during the Class Period.
as well as to increase the Company's equity capital, create a public market for the Company's
Of the 3,100,000 shares of Common Stock offered hereby, 2,900,000 shares are being sold by
See "Underwriting" for information relating to the method of determining the initial public
If such an option is exercised in full, the total Price to Public, Underwriting Discounts and
make huge profits by reselling the shares at much higher prices in the aftermarket.
agreed to and did pay defendant excessive commissions on transactions in other securities
payment by certain investors of extra-large, undisclosed "kickbacks" for allocations in
The NASD is examining IPO allocation practices at several securities firms, including
Defendant's False and Misleading Statements
Regulation S-K specifically governs the forepart of the Registration Statement and outside
The Prospectus violated Regulation S-K and was materially false and misleading
untrue statements of material fact and/or omitted to state material facts necessary to make
Such defendant's material misrepresentations and/or omissions were done
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