Transmeta
Securities Fraud Class
Action
Introduction
Lieff Cabraser Heimann & Bernstein, LLP serves as class counsel in a class action lawsuit against Transmeta Corporation and several of its officers and directors ("defendants") for alleged violations of federal securities laws. In a consolidated amended complaint filed December 20, 2001, the lead plaintiffs allege that defendants engaged in a fraudulent scheme to misrepresent the capabilities of Transmeta's principal product, the "Crusoe" line of microprocessors, and to misrepresent and conceal Transmeta's true financial condition and business prospects in order to artificially inflate Transmeta's stock price.
Transmeta Case History
The case, In re Transmeta Corporation Securities Litigation, was heard by Judge William Alsup of the federal District Court for the Northern District of California. On November 14, 2001, Judge Alsup appointed Lieff Cabraser to serve as class counsel. The consolidated amended complaint was filed on December 20, 2001.
On May 24, 2002, Judge Alsup granted in part and denied in part the Defendants' motion to dismiss. The order upheld Plaintiffs' claim under Section 11 of the Securities Act of 1933 with regard to statements in Transmeta's Registration Statement and Prospectus concerning the performance of Crusoe microprocessors.
On March 13, 2003, the Court found that the settlement of the action for $5.5 million was fair, reasonable and adequate, and granted final approval to the settlement.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP is a fifty-plus attorney law firm that has represented plaintiffs nationwide since 1972. We have offices in San Francisco, New York and Nashville. We represent plaintiffs in class and group actions and in individual lawsuits in cases involving substantial losses. For the last six years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs' law firms in the nation.
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