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Asure Software: Federal Court Sets Hearing Date on Motion for Preliminary Injunction in Asure Software v. Red Oak Partners Case

  //science-technology.news-articles.net/content/2 .. n-in-asure-software-v-red-oak-partners-case.html
  Published in Science and Technology on Friday, July 24th 2009 at 8:45 GMT, Last Modified on 2009-07-24 08:45:28 by Market Wire
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AUSTIN, TX--(Marketwire - July 24, 2009) - Asure Software (NASDAQ: [ ASUR ]), a leading provider of workforce management software, received notice today that the United States District Court for the Western District of Texas set the hearing date on its motion for preliminary injunction in its federal lawsuit against Pinnacle Partners LLLP, Red Oak Partners LLC, et al, for August 24, 2009.

The hearing is scheduled to occur four days prior to Asure Software's Annual Shareholder Meeting, which is currently scheduled for August 28, 2009.

Asure sued Pinnacle and certain other stockholders who have been acting in concert with Pinnacle because, as alleged in the lawsuit, they have, collectively, violated the federal securities laws by failing to disclose the existence of their group. The lawsuit is intended to force compliance with the federal securities laws.

In addition to the hearing date, the Court ordered that all discovery on the Application for Preliminary Injunction and any additional briefing in support or in opposition of the Application for Preliminary Injunction shall be completed and filed with the Court on or before August 20, 2009.

About Asure Software

Headquartered in Austin, Texas, Asure Software (ASUR), (a d/b/a of Forgent Networks, Inc.), empowers small to mid-size organizations and divisions of large enterprises to operate more efficiently, increase worker productivity and reduce costs through a comprehensive suite of on-demand workforce management software and services. Asure's market-leading suite includes products that optimize workforce time and attendance tracking, benefits enrollment and tracking, pay stubs and W2 documentation, expense management, and meeting and event management. With additional offices in Warwick, Rhode Island, Vancouver, British Columbia, and Mumbai, India, Asure serves 3,500 customers around the world. For more information, please visit [ www.asuresoftware.com ].

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

Statements in this press release regarding Asure's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such risks and uncertainties, which include those associated with continued listing of the Company's securities on the NASDAQ Capital Market, could cause actual results to differ from those contained in the forward-looking statements.