The Law Firm of Lasky & Rifkind, Ltd. Announces Class Action Lawsuit against Aspen Technology, Inc.

NEW YORK--()--Nov. 15, 2004--Lasky & Rifkind, Ltd., a law firm with offices in New York and Chicago, announces that a lawsuit has been filed in the United States District Court for the District of Massachusetts, on behalf of persons who purchased or otherwise acquired publicly traded securities of Aspen Technology, Inc. ("Aspen" or the "Company") (NASDAQ:AZPN) between August 8, 2000 and October 29, 2004, inclusive, (the "Class Period"). The lawsuit was filed against Aspen and certain officers and directors ("Defendants").

If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at investorrelations@laskyrifkind.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than January 10, 2005 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel.

The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants issued a series of materially false and misleading statements during the Class Period regarding the Company's financial performance. More specifically, Defendants failed to disclose that Aspen had improperly recognized revenue for certain software license and service agreement transactions entered into with certain alliance partners during the period 2000-2002, and that as a result the Company's revenues and earnings were materially overstated.

On October 27, 2004, Aspen announced that its Audit Committee had begun a review of accounting for certain software license and service agreement transactions. According to the Company, the review could lead to a restatement. Then on October 29, 2004, Aspen announced that federal prosecutors launched a probe into the Company's accounting practices from 2000 through 2002. The Company also received a subpoena from the U.S. Attorney's Office for the Southern District of New York requesting documents related to the transactions the Company entered into in those years.

If you bought Aspen securities between August 8, 2000 and October 29, 2004, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (800) 495-1868 to speak with an advisor.

Contacts

Lasky & Rifkind, Ltd.
Leigh Lasky, Esq., 800-495-1868

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Contacts

Lasky & Rifkind, Ltd.
Leigh Lasky, Esq., 800-495-1868