Bernstein Liebhard & Lifshitz, LLP Commences Class Action On Behalf of
Purchasers of K-Tel International, Inc., Common Stock
Thursday December 3, 5:16 pm Eastern Time
Company Press Release
NEW YORK--(BUSINESS WIRE)--Dec. 3, 1998--A securities class action lawsuit has been commenced
on behalf of purchasers of the common stock of K-Tel International, Inc., (NASDAQ:KTEL - news;
''K-Tel'' or the ''Company'') between October 27, 1998 and November 17, 1998, inclusive (the ''Class
Period''), in the United States District Court for the Southern District of New York.
The lawsuit alleges violations of the federal securities laws and names as defendants the Company
and certain of its officers and directors.
The complaint charges K-Tel and certain of its officers and directors with violations of the Securities
Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
The complaint alleges that the defendants made a series of materially false and misleading statements
about the Company's financial and operating condition and failed to disclose that the Company had
been notified that it could potentially be delisted from the NASDAQ National Market System for failing
to maintain the minimum tangible net asset requirement for listing on that exchange.
As a result of these misrepresentations and omissions, the price of K-Tel's common stock was
artificially inflated throughout the Class period.
Plaintiff seeks to recover damages on behalf of all purchasers of K-Tel common stock during the Class
Period.
If you purchased K-Tel stock during the Class Period, and either lost money on the transaction or still
hold the stock, you may wish to join in the action to serve as lead plaintiff.
In order to do so, you must meet certain requirements set forth in the applicable law and file
appropriate papers within 60 days from November 19, 1998. This early notice to class members is
being made pursuant to applicable law.
Plaintiff is represented in this class action by the law firm of Bernstein Liebhard & Lifshitz, LLP. The
attorneys at Bernstein Liebhard & Lifshitz, LLP have extensive experience in securities class action
cases, and have played lead roles in major cases over the past several years which have resulted in
recoveries of tens of millions of dollars to investors.
The attorneys at Bernstein Liebhard & Lifshitz, LLP have been recognized by courts for the high quality
of their legal representation of defrauded investors. The firm also has extensive experience in corporate
and shareholder litigation, consumer protection and other areas of complex litigation.
If you would like to discuss this action or if you have any questions regarding this Notice or your rights
as a potential class member or lead plaintiff, you may contact Mel E. Lifshitz, Esq. or Michael S. Egan,
Esq., at Bernstein Liebhard and Lifshitz, LLP, 10 E. 40th Street, 22nd Floor, New York, New York 10016,
or by telephone at 800/217-1522 or 212/779-1414, or by e-mail at: egan@bernlieb.com.
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