HORSHAM, Pa., April 7 /PRNewswire-FirstCall/ -- Astea International Inc. , a global provider of service lifecycle management (SLM) solutions, has become aware that a putative class action lawsuit was filed this week in the United States District Court for the Eastern District of Pennsylvania against the Company and certain of its officers alleging violations of the federal securities laws with respect to the Company's recently announced restatement of its quarterly financial statements in 2005.
Although the Company has not yet been served with a copy of the complaint filed in this lawsuit, the Company believes that this reported lawsuit lacks merit and intends to defend the action vigorously.
About Astea International
Astea is a global provider of service management software that addresses the unique needs of companies who manage capital equipment, mission critical assets and human capital. The Astea Alliance suite supports the complete service lifecycle, from lead generation and project quotation to service and billing through asset retirement. It integrates and optimizes critical business processes for Contact Center, Field Service, Depot Repair, Logistics, Professional Services, and Sales & Marketing. Astea extends its application suite with portal, business intelligence, dynamic scheduling, and mobile solutions. Since its inception in 1979, Astea has licensed applications to companies in a wide range of sectors including information technology, telecommunications, instruments & controls, business systems, and medical devices.
http://www.astea.com/. Service Smart. Enterprise Proven.
Astea and Astea Alliance are trademarks of Astea International Inc. All other company and product names contained herein are trademarks of the respective holders.
This press release contains forward-looking statements that are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could materially affect future results. Among these risk factors is the possibility of an unfavorable result in the class action lawsuit referenced above or any other similar action brought against the Company. Further information regarding this as well as other key risk factors and meaningful cautionary statements that could affect the Company's financial results are included at length in the Company's Form 10-K for the fiscal year ended December 31, 2005, filed with the Securities and Exchange Commission.
