SOURCE: The Rosen Law Firm

May 25, 2005 10:58 ET

Investor Notice: Rosen Law Firm Files Securities Class Action on Behalf of StockerYale Shareholders - STKR

NEW YORK, NY -- (MARKET WIRE) -- May 25, 2005 -- The Rosen Law Firm (http://www.rosenlegal.com) announced today it has filed a securities class action against StockerYale and certain of its officers and directors on behalf of purchasers of StockerYale Inc. (NASDAQ: STKR) publicly traded common stock during the period between April 19, 2004, and November 9, 2004, inclusive (the "Class Period").

To join the StockerYale class action go to our website online at http://www.rosenlegal.com or call Laurence Rosen, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com.

The complaint charges that StockerYale and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities and Exchange Act by issuing false and misleading press releases on April 19 and April 21, 2004, in which the Company falsely announced that StockerYale had entered into a contract with BAE Systems to develop a laser for a missile countermeasure system to protect commercial planes. Additionally, the press releases misrepresented that StockerYale was supplying the lasers as part of a Department of Homeland Security project. In fact, StockerYale was not involved in any Department of Homeland Security project and was not developing a laser missile countermeasure system for commercial planes.

Within minutes of the publication of the first press release on April 19th, StockerYale's share price surged as a result of the positive announcements. StockerYale CEO Mark Blodgett sold 250,000 shares of stock for over $1.6 million the next day. Lawrence Blodgett, a director, sold 56,900 shares of stock for over $350,000.

On May 23, 2005, the SEC announced it had entered into a consent judgment settling charges against StockerYale and Mark Blodgett.

A class action lawsuit has already been filed on behalf of StockerYale shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com You can also join this class action online at http://www.rosenlegal.com

The Rosen Law Firm http://www.rosenlegal.com has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.

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