LAS VEGAS A class action lawsuit was filed on May 4 on behalf of purchasers of PurchasePro.com securities during the period between July 19, 2000 and April 25, 2001. The complaint charges PurchasePro and certain of its officers and directors with violations of the SEC Act of 1934. The complaint alleges that during the Class Period, defendants made positive but false statements about PurchasePro s results and business, which essentially involved PurchasePro buying its own revenues and engaging in barter transactions. As a result, said the suit, PurchasePro s stock was traded at artificially inflated levels, permitting the two individual defendants to sell $16.9 million worth of their PurchasePro stock. (5/16/01)
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