Wolf Popper LLP Files Securities Fraud Class Action Against Majesco Entertainment Company

Wolf Popper LLP Files Securities Fraud Class Action Against
Majesco Entertainment Company 


NEW YORK, July 27  /PRNewswire/ -- Wolf Popper LLP has filed a securities fraud
lawsuit against Majesco Entertainment Company ("Majesco") (NasdaqNM: "COOL") and
certain of its officers and directors, on behalf of all persons who purchased
Majesco securities on the open market during the period December 8, 2004
through July 12, 2005.  The action was filed in the United States District
Court, District of New Jersey.  The complaint can be obtained from the Court or
viewed on Wolf Popper's website (http://www.wolfpopper.com/).

The complaint alleges that during the Class Period, defendants caused Majesco
to issue numerous press releases and file quarterly and annual report with the
SEC, touting that the Company's sales for year 2005 expected to bring in
$175-185 million in revenue and operating income of $16-18 million, and
repeatedly discussing the introduction of new products such as popular
frontline video games and wireless plug and play gadgets.  However, unbeknownst
to the market, Majesco was facing weaker than expected sales across all product
lines, high retail inventory levels, a steep decline in demand for its
products, and a write-down of receivables as a result of a financially troubled
customer.

On July 12, 2005, Majesco stunned the market when it finally revealed its true
financial condition, informing investors that it had to lower its previous
guidance on fiscal 2005 earnings by more than 200%, from an operating income of
$16-18 million to an operating loss of $16-19 million.

In immediate reaction to the July 12, 2005 announcement, Majesco's common stock
plummeted 48% to $3.56, on a trading volume of 19,070,308, from its closing
price of $6.89 on July 12, 2005, and a trading volume of 901,051.

Wolf Popper LLP has extensive experience representing shareholders in class
actions and has successfully recovered billions of dollars for defrauded
shareholders.

Class members who desire to be appointed a lead plaintiff in this action must
file a motion with the Court no later than September 16, 2005.  Class members
who are interested in serving as a lead plaintiff in this action, or other
persons who have questions or information regarding the prosecution of this
action, are urged to call or write:

  Emily DeMuro, Investor Relations () or James Kelly-
  Kowlowitz, Esq. () * Wolf Popper LLP * 845 Third
  Avenue * New York * NY * 10022 Tel.:[phone] * Toll Free:877.370.7703
  *  Fax:[phone] * Toll Free Fax:[phone] Email:
  

  Contact:   Wolf Popper LLP
             Emily DeMuro, Investor Relations
             212.451.9610

  Doc#: 148796 Ver#:1 9730:0294


DATASOURCE: Wolf Popper LLP



CONTACT:  Emily DeMuro, Investor Relations, of Wolf Popper LLP,

[phone] 



Web site:  http://www.wolfpopper.com/ 

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