UN1'1'131) STATES
SOUTHERN DISTRICT OF
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WESLEY D, and PAMELA S.T. JOHNSON, and
DON FIFE, individually and on hchalf of
themselves and all others similarly situated,
Plaintiffs,
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REYNALD 0, BONMATI, KURT W. STREAMS,
NORLAND MEDICAL SYSTEMS, INC.,
Defendants.
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Plaintiffs, individually and on
y
their undersigned attorneys, for their complaint, allege upon personal knowledge as to
lhctnselves and their own acts, and upon information and belief as to all other matters,
upon, inter din, the investigation made by and through their attorneys, which investigation
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their undersigned attorneys, for their complaint, allege upon personal knowledge as to
upon, inter din, the investigation made by and through their attorneys, which investigation
included, among other things, a rcvicw of the public documents, Securities and Exchange
Commission filings, analyst reports, news releases and media reports of Norland
Many of the acts alleged herein, including the dissemination to the
Norland maintains its executive offices at 106 Corporate Park Drive, White Plains,
Plaintiffs purchased shares of Norland common stock during the Class
damaged as a result of defendants' conduct as alleged herein.
principal offices at 106 Corporate Park Drive in White Plains, New York.
As of March 31, 1997, Bonmati was deemed to have owned,
with new stock options having an exercise price of $9.75 per share.
Plaintiffs bring this action as a class action pursuant to Federal Rules of
Defendants made public misrepresentations or failed to disclose material facts regarding
The statements alleged to be false and misleading herein all relate to thenexisting facts and
of those representations forming t.he basis of the complaint that actual.
and net income for the fiscal year ended
In an August 1, 1997 report, Jefferies
In the 24 press release Norland reported revenues of $7,184,624 and net income
Norland has recruited an additional direct sales
sales of the pDEXAand Osteohnalyzer bone densitometers "continued to rebound
W Defendants falsely represented in the 10K that Norland's financial statements were prepared
resulting in the overstatement of earnings by approximately $983,000;
Exchange Act, 17 C.F.R. 5 210.4-01, provides that financial statements filed with the
The principle that financial reporting should be reliable in that it
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