Hoffman & Edelson Announces Class Action Lawsuit Filed on Behalf of K-Tel International Inc. Stockholders
DOYLESTOWN, Pa.--(BUSINESS WIRE)--Dec. 1, 1998--K-Tel International Inc. (Nasdaq:KTEL - news) and
various of its senior officers engaged in securities fraud, according to a class action lawsuit filed by Hoffman
& Edelson on Dec. 1, 1998 in the United States District Court for the District of Minnesota.
According to the lawsuit, defendants materially inflated the market price of K-tel's stock during the period
Nov. 3, 1998 through Nov. 17, 1998.
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 in an Oct. 1998 letter that K-Tel had failed to
maintain the minimum tangible net asset requirement for listing on that exchange. This news was concealed from
investors until Nov. 17, 1998.
This notice to class members is being made pursuant to applicable law. If you purchased the stock of K-Tel
International Inc. (Nasdaq:KTEL - news) during the period Nov. 3, 1998 through Nov. 17, 1998, inclusive, you
may wish to join the action. You may move the court to serve as a lead plaintiff no later than Jan. 18, 1999.
If you would like to discuss this action or if you have any questions concerning this notice or your rights with
respect to this matter, you may contact:
Jerold B. Hoffman, Esq. or Marc H. Edelson., Esq., HOFFMAN & EDELSON, 45 W. Court Street, Doylestown,
PA 18901, Telephone: 215/230-8043, Fax: 215/230-8735, E-mail: Hofedlaw@aol.com
The law firm of Hoffman & Edelson has extensive experience in securities, antitrust and consumer class action
cases.
Contact:
HOFFMAN & EDELSON
Jerold B. Hoffman, Esq. or Marc H. Edelson, Esq.
215/230-8043
E-mail: Hofedlaw@aol.com
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