Legato Class Action Complaint Freely Available By Calling (800) 891-6305

        On January 21, 2000, Beatie and Osborn LLP filed a lawsuit in the federal court in California against Legato Systems, Inc. (NASDAQ: LGTO) and its officers. The lawsuit was filed on behalf of investors who acquired Legato common stock between the close of trading on October 20, 1999 and January 19, 2000 (the "Class Period"). A copy of the complaint is freely available by calling the numbers below.   

The lawsuit alleges that Legato and its officers concealed Legato's badly fledgling growth to prevent a decline in the price of Legato stock in order to allow the officers to engage in insider trading (reaping more than $11.5 million in proceeds) and to use Legato's stock, that was trading at an artificially high price, to purchase other companies.

Legato's problems were concealed by (i) accounting schemes that inflated the Company's third quarter 1999 results; and (ii) the issuance of positive statements to the public and analysts. As a result of defendants' efforts, numerous analysts issued "Buy" or "Strong Buy" recommendations during the Class Period.   
On January 19, 2000, the fraud was discovered by the Company's accountants, who subsequently required Legato to restate its 1999 third quarter results and disclose the Company's slower growth rate. When the Company announced its intention to restate its third quarter results, the price of Legato's shares declined by almost 50%.        

The lawsuit seeks to recover damages suffered by Legato investors as a result of defendants' improper conduct.   

Plaintiff is represented by the law firm of Beatie and Osborn LLP which has extensive experience in securities class action cases, and has played lead roles in major cases resulting in recovery of millions of dollars to investors.   

If you acquired Legato shares during the Class Period, you may, no later than March 20, 2000, seek to join this lawsuit as a named plaintiff. A copy of the complaint, as well as the form that must be completed to participate as a named plaintiff, are available by contacting the law firm of Beatie and Osborn LLP, at the address and phone numbers listed below. You may apply for the role of named plaintiff in the lawsuit through your own counsel. At this initial stage, contacting counsel and/or filling out a form with respect to the lawsuit are not prerequisites to participating in any class recovery.   

If you have questions concerning your rights or interests with respect to this matter, please contact:   
Eduard Korsinsky, Esq. or   
Ben Coleman, Legal Assistant   
Beatie and Osborn LLP   
599 Lexington Avenue - 42nd Flr   
New York, NY 10022   
Telephone: (800) 891-6305   
Fax:       (212) 888-9664   
E-mail: bandolaw@aol.com   
Internet: http://www.bandolaw.com