I think Brad is pushing Visg shareholders to file a class action suit for not supposedly being upfront with with shareholders. Krispy Kreme is being hit with a suit for more or less the same thing.
Zimmerman, Levi & Korsinsky, LLP Files Class Action Lawsuit Against Krispy Kreme Doughnuts, Inc. -- KKD
Friday May 21, 6:00 pm ET
NEWARK, N.J., May 21, 2004 (PRIMEZONE) -- Zimmerman, Levi & Korsinsky, LLP today announced that it has commenced a securities lawsuit on behalf of shareholders who purchased the common stock of Krispy Kreme Doughnuts Inc., (NYSE:KKD - News) (``Krispy Kreme'' or the ``Company'') from August 21, 2003 through May 7, 2004, inclusive (the ``Class Period''). The lawsuit was filed in the United States District Court for the Middle District of North Carolina.
The complaint charges that Krispy Kreme, Randy S. Casstevens, Scott Livengood, Michael Phalen, and John Tate, violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market between August 21, 2003 and May 7, 2004, about the Company's financial condition thereby artificially inflating the price of Krispy Kreme's stock. |
