Monday August 11 6:02 AM EDT
Company Press Release
Cohen, Milstein, Hausfeld & Toll, P.L.L.C. Files Class Action Suit Against Einstein Noah Bagel Group
SEATTLE--(BUSINESS WIRE)--Aug. 11, 1997--The following Notice is issued by the law firm of Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (``CMH&T'') on behalf of its client, who has filed a class action on behalf of purchasers of the common stock of Einstein Noah Bagel Corp. (NASDAQ:ENBX).
The Complaint charges Einstein and certain of its officers and directors with violations of the federal securities laws. It alleges that they failed to recognize in Einstein's financial statements substantial losses that were being incurred through retail outlets that were under the control of Einstein.
This scheme allowed defendants to raise $81 million in a 1996 initial public offering at $17 per share, and then drove the share price to even higher levels in late 1996. The action is brought as a class action on behalf of persons who purchased Einstein common stock between Aug. 2, 1996 and July 25, 1997.
CMH&T has significant experience in prosecuting investor class actions and actions involving financial fraud. The firm has offices in Washington, D.C. and Seattle and is active in major litigation pending in federal and state courts throughout the nation. It was co-lead counsel for the plaintiffs in the landmark $176 million settlement reached in the racial discrimination lawsuit against Texaco Inc.
CMH&T's reputation for excellence has been recognized on repeated occasion by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. CMH&T has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total hundreds of millions of dollars, or more. Visit the firm's website at www.cmht.com .
If you are a member of the Class who purchased ENBX common stock between Aug. 2, 1996 and July 15, 1997 (the ``Class Period''), you may move the Court to serve as lead plaintiff for the Class, within 60 days from July 29, 1997. In order to serve lead plaintiff, you must meet certain legal standards.
If you have any questions about this Notice or the action, or with regard to your rights, please contact the following attorneys: Steven J. Toll, Matthew J. Ide or Jessica A. Eaves of CMH&T at 206/521-0080, 1301 Fifth Avenue, Suite 2905, Seattle, Washington |
