MILBERG WEISS BERSHAD HYNES PurchasePro.com, Inc.
& LERACH, LLP
One Pennsylvania Plaza
New York, New York 10119-0165
(212) 594-5300
BERNSTEIN LIEBHARD & LIFSHITZ, LLP
10 East 40th Street
New York, New York 10016
(212) 779-1414
Co-Liaison Counsel for Plaintiff on
Behalf of Plaintiffs' Executive Committee
listed on signature pages
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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COLLEGEWARE USA, INC., on behalf : 01-CV-10867 (SAS)
of itself and all others :
similarly situated, : 21 MC 92 (SAS)
:
Plaintiff, :
: CLASS ACTION COMPLAINT
-against- : FOR VIOLATIONS OF
: FEDERAL SECURITIES LAW
:
PURCHASEPRO.COM, INC., PRUDENTIAL :
SECURITIES INCORPORATED, CREDIT :
SUISSE FIRST BOSTON CORPORATION, :
JEFFERIES & COMPANY, INC., :
DONALDSON, LUFKIN & JENRETTE :
SECURITIES CORPORATION, CHASE H&Q :
(HAMBRECHT & QUIST LLC), SALOMON :
SMITH BARNEY, INC., BEAR, STEARNS :
& CO., INC., FLEETBOSTON ROBERTSON :
STEPHENS, INC., CHARLES E. :
JOHNSON, JR., RICHARD C. ST. :
PETER, and CHRISTOPHER CARTON, : JURY TRIAL DEMANDED
Defendants. :
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Plaintiff, by and through its attorneys, as and
for its Class Action Complaint, alleges upon personal
SNIPPETS:
One Pennsylvania Plaza New York,
Co-Liaison Counsel for Plaintiff on
SOUTHERN DISTRICT OF NEW YORK -----------------------------------X
the "Company") with the Securities and Exchange Commission
statements, Quarterly Reports to Shareholders, the
and the Prospectus and Registration Statement
12 and 15 of the Securities Act of
in this judicial district of the IPO Prospectus,
shareholders of PurchasePro, which documents were
materially false and misleading, during the Class Period
other wrongs complained of herein, the defendants, directly
Plaintiff purchased shares of PurchasePro as
underwriter of the IPO of 12,000,000 shares1 of common stock
Secondary Offering of PurchasePro shares to the public.
All stock and price data herein reflect both the Company's 3:2 stock split in the form of a
Defendant Salomon Smith Barney, Inc.
Defendant FleetBoston Robertson Stephens,
The Individual Defendants, because of their
Various Registration Statements of which the IPO Prospectus
and/or misrepresented material facts about the PurchasePro
and the underwriting discounts and commissions,
offering, according to the executives.
regarding violations of NASD rules connected with the sale
Regulation S-K,
or participation in the making of such statements
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