Class Action Law Suit filed.:
Dreier Baritz & Federman Files Securities Class Action Lawsuit Against DCI Telecommunications, Inc.
OKLAHOMA CITY, April 26 /PRNewswire/ -- Dreier Baritz & Federman has
commenced a class action lawsuit in the United States District Court for the
Southern District of New York on behalf of all purchasers of DCI
Telecommunications, Inc. (Pink Sheets: DCTC) securities between April 21, 1998
through June 23, 2000 (the "Class Period").
The complaint charges DCTC, certain of its officers and directors and
auditors with violations of sections 10(b) and 20(a) of the Securities Act of
1934. The complaint alleges accounting fraud and that DCTC issued materially
false and misleading financial information concerning its expected and its
purportedly-achieved revenues and earnings during the Class Period. The
complaint alleges that as a result of such misleading information, DCTC's
securities traded at artificially inflated prices during the Class Period.
Specifically, the complaint alleges that, throughout the Class Period,
defendants, including DCTC's auditors, Schnitzer & Kondub, P.C., participated
in improper accounting for various acquisitions and grossly overvaluing a
purported $15 million contract and $5 million promissory notes. It is further
alleged that these accounting improprieties caused DCTC's financial statements
to be materially false and misleading.
Dreier Baritz & Federman specializes in complex litigation, including
securities litigation and has repeatedly demonstrated its expertise in this
field.
If you are a member of the class described above, you may, no later than
60 days from April 26, 2001, move the court to serve as a lead plaintiff of
the class, if you so choose. In order to serve as lead plaintiff, however,
you must meet certain legal requirements as set out in the Private Securities
Litigation Reform Act of 1995. A lead plaintiff is a representative party
that acts on behalf of other class members in directing the litigation. Class
members need not, however, seek appointment as lead plaintiff in order to
share in any recovery resulting from this litigation.
If you wish to discuss the claims described above or have any questions
concerning this notice or your rights, please e-mail us at wFederman@aol.com
or contact:
William B. Federman
DREIER BARITZ & FEDERMAN
120 N. Robinson, Suite 2720
Oklahoma City, OK 73102
(405) 235-1560/FAX: (405) 239-2112
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SOURCE Dreier Baritz & Federman
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