ALLT Allot Ltd

RADNOR, Pa., May 15 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP: Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of all common stock purchasers of Allot Communications Ltd. (NASDAQ:ALLT) ("Allot" or the "Company") pursuant or traceable to the Company's November 15, 2006 Initial Public Offering (the "IPO") through April 2, 2007, inclusive (the "Class Period"). If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at . The Complaint charges Allot and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Allot is a designer and developer of broadband service optimization solutions using advanced deep packet inspection technology. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company was experiencing declining sales; and (2) that the sales declines were occurring in its indirect distribution channels. On April 2, 2007, the Company disclosed to investors for the first time that its revenues and earnings for the first quarter of 2007 and fiscal year 2007 were going to be dramatically lower than earlier forecasted, a guidance that was given to investors less than seven weeks before. On the release of this news, shares of the Company's stock declined $2.04 per share, or 22.3 percent, to close on April 2, 2007 at $7.11 per share, on unusually heavy trading volume. The closing price on April 2, 2007 represented a cumulative loss of $6.70 per share, or over 48.5 percent of the value of the Company's shares immediately following its IPO just months prior. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit http://www.sbtklaw.com/ If you are a member of the class described above, you may, not later than July 2, 2007, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin Barroway Topaz & Kessler or other counsel of your choice, to serve as your counsel in this action. CONTACT: Schiffrin Barroway Topaz & Kessler, LLP Darren J. Check, Esq. Richard A. Maniskas, Esq. 280 King of Prussia Road Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706 Or by e-mail at DATASOURCE: Schiffrin Barroway Topaz & Kessler, LLP CONTACT: Darren J. Check, Esq., Richard A. Maniskas, Esq., +1-888-299-7706 (toll free), or +1-610-667-7706, , both of Schiffrin Barroway Topaz & Kessler, LLP Web site: http://www.sbtklaw.com/

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