A class action lawsuit was filed in the United States District Court for the Southern District of Indiana on behalf of purchasers of Brightpoint, Inc. ("Brightpoint") (NASDAQ: CELL) common stock between January 29, 1999 and November 13, 2001, inclusive (the "Class Period").
Brightpoint is one of the world's largest distributor of cellular phones. It sells equipment to cellular carriers, agents, dealers, and retailers, doing business in more than 75 countries on six continents.
The defendants include Brightpoint and certain of its officers and directors. The Complaint charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5). The action arises from damages incurred by the Class as a result of a scheme and common course of conduct by defendants which operated as a fraud and deceit on the Class during the Class Period. Defendants' scheme included rendering false and misleading statements and/or omissions concerning the financial condition, accounting methodologies and business prospects of the Company, as well as the financial benefits that would inure to Brightpoint and its shareholders. As a result, on or about November 13, 2001, Brightpoint announced that in response to a subpoena issued by the Securities and Exchange Commission ("SEC") and a subsequent review by their outside auditors, the Company would restate its annual financial statements for 1998, 1999, 2000, and the interim periods of 2001.

Update

This case has settled. In order to share in the recovery, you must submit a claim form by August 29, 2003. To obtain a claim packet (including details on the settlement and a proof of claim form), please go to www.berdonllp.com.

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