Wechsler Harwood Commences Securities Class Action Against En Point Technologies, Inc. (Nasdaq: ENPT)

The following is an announcement by law firm Wechsler Harwood Halebian & Feffer LLP. (http://www.whhf.com/). Wechsler Harwood Halebian & Feffer LLP has been engaged to commence a class action lawsuit in the United States District Court for the Southern District of California on behalf of all persons or entities who purchased or otherwise acquired En Point Technologies, Inc. ("EnPoint" or the "Company") common stock between December 7, 1999 and April 13, 2000 (the "Class Period").

The complaint charges En Point and certain of its officers and directors, along with Hampton-Porter Investment Bankers, LLC ("Hampton-Porter") with violations of the federal securities laws. Specifically, the complaint alleges violation of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

The complaint charges that certain of the Company's insiders conspired with Hampton-Porter Investment Bankers, LLC and other stock promoters to artificially inflate the share price of En Point common stock, in order to reap over $50 million in proceeds from insider sales of the stock. The complaint alleges that Hampton-Porter pushed the stock on clients, and refused to accept sell orders, while simultaneously feeding the market false information concerning the Company's business operations.

The complaint further alleges that defendants misled the market concerning En Point's ownership of Supply Access, Inc. and the business prospects of Supply Access. In particular, defendants concealed the fact that En Point was poised to proceed with a supplemental private placement offering which would reduce the Company's ownership in Supply Access to a minority position, and further misrepresented that Supply Access competed with Ariba and CommerceOne in the "B2B" market, when in fact it did not.

On April 13, 2000, En Point revealed that, pursuant to a private placement of preferred stock, its ownership interest in Supply Access had fallen below 50%, and it was no longer the majority owner of Supply Access. In reaction to this news, the Company's share price plummeted, falling $14.63 or 53 percent, to $12.88 on April 13, 2000.

Plaintiff seeks to recover damages on behalf of all investors who purchased En Point common stock during the Class Period and who suffered damages as a result.

Plaintiffs are represented by the law firm of Wechsler Harwood Halebian & Feffer LLP which has extensive experience representing shareholders in class actions and has been recognized as able practitioners by the courts.

If you acquired En Point during the Class Period, you have until April 13, 2001, to participate in the case and ask the Court to appoint you as one of the lead plaintiffs for the class. In order to serve as lead plaintiff, you must meet certain legal requirements. If you wish to discuss this action or have any questions, please contact:

  Wechsler Harwood Halebian & Feffer LLP
  488 Madison Avenue - 8th Floor
  New York, New York 10022
  Telephone: (877) 935-7400 (toll free)
  Facsimile: (212) 753-3630

  Patricia Guiteau, Shareholder Relations Department:
  pguiteau@whhf.com

SOURCE: Wechsler Harwood Halebian & Feffer LLP

Contact: Patricia Guiteau, Shareholder Relations Department of Wechsler
Harwood Halebian & Feffer LLP 877-935-7400, or fax, 212-753-3630,
pguiteau@whhf.com

Website: http://www.whhf.com/