Spector & Roseman, P.C. Announces Class Action Law Suit Filed Against K-Tel International Inc. and Certain Officers and Directors
Tuesday December 1, 4:55 pm Eastern Time
Company Press Release
PHILADELPHIA--(BUSINESS WIRE)--Dec. 1, 1998--Notice is hereby given that a class action lawsuit was
filed Wednesday in the United States District for the District of Minnesota against K-Tel International, Inc.
(''K-Tel'')(NASDAQ:KTEL - news) and certain of its officers and directors on behalf of all persons or
entities who purchased K-Tel common stock during the period of Nov. 3, 1998 through and including Nov. 17,
1998 (the ''Class Period'') by the law firm of Spector & Roseman P.C.
The Complaint alleges that K-Tel and certain officers and directors of the Company, during the Class Period,
violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Complaint charges that the
defendants issued a series of materially false and misleading statements and concealed that K-Tel had been
warned that it was to be de-listed from the NASDAQ National Market. When the news of the NASDAQ
warning was belatedly made public on Nov. 17, 1998, the price of K-Tel common stock plummeted from
$17-5/8 per share to less than $10 per share in only two trading days.
The plaintiff seeks to recover damages on behalf of all purchasers of K-Tel common stock during the Class
Period. The laintiff is represented by the law firm Spector & Roseman, P.C., who have expertise in prosecuting
investor class actions and extensive experience in actions involving financial fraud.
Spector & Roseman, P.C., located in Philadelphia and San Diego, concentrates its practice in complex litigation
including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in
major litigation pending in federal and state courts throughout the United States.
The firm's reputation for excellence has been recognized on repeated occasions by courts which have
appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities
laws and the federal antitrust laws.
As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered on
behalf of thousands of defrauded shareholders and companies.
The Firm is currently representing investors as lead counsel in actions against S3 Inc. [Nasdaq:SIII - news],
Altris Software, Dreyfus Aggressive Growth Fund, Mitcham Corp. and Vivus Inc [Nasdaq:VVUS - news]. The
firm is currently representing businesses as lead counsel in the following antitrust actions: In re Flat Glass
Antitrust Litigation; In re Corrugated Paper Antitrust Litigation.
If you are a member of the Class described above, you may, no 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,
please contact plaintiffs' counsel Jeffrey L. Kodroff, toll free at 888/844-5862 or via E-mail at
spro@voicenet.com
Visit the firm's web-site at: spectorandroseman.com
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