don't know if anyone visits this thread anymore but here is one that wasn't hard to see coming.
regards,
RL
Emex Corporation Accused of Defrauding Investors in Shareholder Class Action Bro
/FROM PR NEWSWIRE BOSTON 617-482-5355/
-- WITH PHOTO -- TO BUSINESS AND ENERGY EDITORS:
Emex Corporation Accused of Defrauding Investors in Shareholder
Class Action Brought by Berman DeValerio & Pease
NEW YORK, June 5 /PRNewswire/ -- Shareholders yesterday filed a federal
class action charging Emex Corporation (Nasdaq: EMEX) with securities fraud,
the law firm of Berman DeValerio & Pease said.
(Photo: newscom.com )
The lawsuit was filed in the United States District Court for the Southern
District of New York and is captioned Masters v. Emex Corporation et al.,
Civil Action No. 01-CV-4886. It seeks damages for violations of federal
securities laws on behalf of all investors who bought Emex Corporation common
stock between April 9, 2001 through May 23, 2001 (the "Class Period").
Berman DeValerio & Pease has represented investors in class actions for
nearly two decades. To review the complaint and learn more about becoming a
lead plaintiff, visit our Website at www.bermanesq.com.
Emex Corporation ("Emex" or the "Company") is charged with having issued a
false and misleading press release concerning its successful attempt to secure
much-needed financing. In particular, on April 9, 2001, the Company announced
that it had obtained $100 million in project financing to build the first of a
series of its highly-touted commercial plants. The Company credited the
success of the deal to "the efforts of Credit Suisse First Boston," a
prestigious Wall Street investment firm. In reaction to the news, the price
of Emex common stock soared 13% on April 10, 2001. On May 23, 2001, Dow Jones
Newswires broke the news that, in fact, Credit Suisse First Boston ("CSFB")
was not involved in securing Emex's financing. According to the May 23rd
article, a spokesperson for CSFB stated that CSFB turned down Emex's financing
proposal. On May 30, 2001, Emex issued another press release in which it
revealed that Fieldstone, Inc., not CSFB, was the financial institution behind
the $100 million financing.
If you purchased Emex common stock during the period of April 9, 2001
through May 23, 2001, you may wish to contact the following attorneys at
Berman DeValerio & Pease to discuss your rights and interests:
Patrick T. Egan, Esq.
Jeffrey C. Block, Esq.
Berman DeValerio & Pease LLP
One Liberty Square
Boston, MA 02109
bdplaw@bermanesq.com
(800) 516-9926
You may also visit us at our website at www.bermanesq.com.
If you wish to apply to be lead plaintiff in this action, a motion must be
filed on your behalf with the court no later than August 6, 2001. You may
contact the attorneys at Berman DeValerio & Pease to discuss your rights
regarding the appointment of lead plaintiff and your interest in the class
action. To be a member of the class, however, you need not take any action at
this time and you may retain counsel of your own choice. If you decide to
seek appointment as lead plaintiff, you may also retain counsel of your
choice.
With offices in Boston and San Francisco, Berman DeValerio & Pease has
prosecuted shareholder class actions since 1982, recovering more than $1
billion for investors. The firm has acted as lead counsel in numerous lawsuits
involving violations of federal securities laws. It has successfully
litigated these actions, and has been singled out for its excellence by many
courts. The firm prides itself on its responsiveness to shareholders and
their needs in each case.
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SOURCE Berman DeValerio & Pease
/CONTACT: Patrick T. Egan, Esq. of Berman DeValerio & Pease,800-516-9926, or
bdplaw@bermanesq.com/
/Photo: newscom.com Photo Desk,
888-776-6555 or 212-782-2840/
/Web site: bermanesq.com
Jun-05-2001 16:38 GMT
Symbols:
US;EMEX
Source PRN PR NewsWire
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