At least three class-action lawsuits have already been filed against Liberate
Technologies, which announced last Tuesday that it would restate financial
results for the fourth quarter and fiscal year ended May 31.
Suits have been filed by Brodsky & Smith LLC, Glancy & Binkow LLP and
Charles J. Piven.
The suits alleged that the interactive-TV company inflated its results by
disseminating materially false and misleading statements regarding the nature of
its revenue and earnings.