Shareholder Class Action Filed Against K-Tel International Inc. by the Law Firm of Schiffrin Craig & Barroway, LLP
Wednesday November 25, 8:30 am Eastern Time
Company Press Release
BALA CYNWYD, Pa.--(BUSINESS WIRE)--Nov. 25, 1998--The following statement was issued today by the
law firm of Schiffrin Craig & Barroway, LLP:
Notice is hereby given that a class action lawsuit was filed in the United States District Court for the District
of Minnesota on behalf of all purchasers of the common stock of K-Tel International Inc. (Nasdaq:KTEL -
news) from Oct. 27, 1998 through Nov. 17, 1998, (the ''Class Period'').
The complaint charges K-Tel and certain of its officers and directors with failing to disclose that the Company
had been informed by the Nasdaq National Market System (''Nasdaq'') in an October 1998 letter that K-Tel
had failed to maintain the ''minimum tangible net asset requirement for listing'' on that exchange. This crucial
news was concealed from investors until Nov. 17, 1998.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin
Craig & Barroway, LLP, who has significant experience and expertise prosecuting class actions on behalf of
investors and shareholders. For more information on Schiffrin Craig & Barroway, please visit our website at
www.scbclasslaw.com.
If you are a member of the class described above, you may, not later than Jan. 18, 1999, move the Court to
serve as lead plaintiff of the class, if you so choose. In order 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 with
respect to these matters, please contact Schiffrin Craig & Barroway, LLP (Andrew L. Barroway, Esq.) toll free
at 888/299-7706 or 610/667-7706, or via e-mail at info@scbclasslaw.com.
Contact:
Schiffrin Craig & Barroway, LLP
Andrew L. Barroway, Esq.
888/299-7706 (toll free) or 610/667-7706
e-mail at info@scbclasslaw.com
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