Rabin & Peckel LLP Files Class Action Against Crystallex International
Corp. and Its CEO Marc J. Oppenheimer Alleging Violations of Federal
Securities Law
NEW YORK--(BUSINESS WIRE)--July 16, 1998--A putative class action has been filed in the United States District Court
for the Southern District of New York on behalf of all purchasers of Crystallex International Corp. (AMEX:KRY - news;
''Crystallex'' or the ''Company'') common stock from March 3, 1997 through June 12, 1998, inclusive (the ''Class Period'').
The Complaint alleges that Crystallex and its chief executive officer, Marc J. Oppenheimer, violated the Securities Exchange
Act of 1934 by making a series of false and misleading statements concerning Crystallex's interest in two gold mining
concessions, the Las Cristinas 4 & 6 concessions, in Kilometer 88, Venezuela. These concessions are reported to contain 11.8
million ounces of gold, making it the largest gold deposit in Venezuela, the Complaint alleges. In particular, it is alleged that
defendants claimed that Crystallex had acquired the rights to the Las Cristinas concessions, when in fact it had not. The
Company further claimed, it is alleged, that the rights of its rival, Placer Dome, Inc., a multinational mining company, to explore
these concessions, received pursuant to a joint venture agreement with Corporacion Venezolana de Guyana (''CVG''), a
Venezuelan company owned and operated by the Venezuelan government, were in question because of the lack of authority of
CVG to grant rights to these concessions. Throughout the Class Period, it is alleged, Crystallex continued to dispute the right of
Placer Dome, pursuant to its joint venture agreement with CVG, to the Las Cristinas concessions and continued to claim the
right to those concessions for itself. The Complaint alleges that as a result of these false and misleading statements the price of
Crystallex common stock was artificially inflated throughout the Class Period causing plaintiff and the other members of the
Class to suffer damages.
Plaintiff is represented by the law firms of Rabin & Peckel LLP and The Law Office of Leo W. Desmond. Rabin & Peckel
LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for
more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United
States.
If you purchased Crystallex common stock during the Class Period described above, you may, no later than 60 days from the
date of this Notice, move the Court to serve as lead plaintiff, if you so choose. To serve as lead plaintiff, however, you must
meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or
interests, please contact plaintiff's counsel, Joseph V. McBride or Donald J. Wallace, Rabin & Peckel LLP, 275 Madison
Avenue, New York, NY 10016, by telephone at (800) 497-8076 or (212) 682-1818, by facsimile at (212) 682-1892, or by
e-mail at rabinlaw@ix.netcom.com, or Leo W. Desmond, The Law Office of Leo W. Desmond, 2161 Palm Beach Lakes
Blvd., Suite 204, West Palm Beach, FL 33409, by telephone at (888) 337-6663 or (561) 712-8000, by facsimile at (561)
712-8002, by e-mail at Info@SecuritiesAttorney.com, or at his website at www.SecuritiesAttorney.com.
Contact:
RABIN & PECKEL LLP:
Joseph V. McBride
Donald J. Wallace
800/497-8076
212/682-1818
rabinlaw@ix.netcom.com
or
THE LAW OFFICE OF LEO W. DESMOND
Leo W. Desmond
888/337-6663
561/712-8000
Info@SecuritiesAttorney.com
www.SecuritiesAttorney.com
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