Kaplan, Kilsheimer & Fox LLP Files Class Action on Behalf of K-TEL INTERNATIONAL INC. Shareholders
NEW YORK, Dec. 7 /PRNewswire/ -- Kaplan, Kilsheimer & Fox LLP has filed a Class Action against K-TEL
INTERNATIONAL INC. (''K-Tel'') (Nasdaq: KTEL - news) and certain of its officers and directors in the United
States District Court for the District of Minnesota. The suit is brought on behalf of all persons or entities
who purchased the common stock of K-Tel between October 27, 1998 and November 17, 1998, inclusive
(the ''Class Period'').
The Complaint alleges that K-Tel and certain of its officers and directors violated Sections 10(b) and 20(a)
of the Securities Exchange Act of 1934. The Complaint alleges, among other things, that defendants
artificially inflated the price of K-Tel common stock by issuing a series of false and misleading
statements and press releases to conceal that K-Tel had been warned that it was to be delisted from the
Nasdaq National Market. When news of the Nasdaq warning was made public on November 17, 1998, the
price per share of K-Tel common stock dropped from $17-5/8 per share to less than $10 in just two
trading days.
Plaintiff seeks to recover damages on behalf of the Class and is represented by Kaplan, Kilsheimer & Fox
LLP, which has many years of experience in prosecuting investor class actions and actions involving
financial fraud.
If you are a member of the Class who purchased K-Tel common stock during the period between October
27, 1998 and November 17, 1998, inclusive, you may move the court, no later than 60 days from
November 23, 1998, to serve as lead plaintiff for the class. In order to serve as lead plaintiff, you must
meet certain legal requirements.
If you have any questions about this Notice, the action, or your rights, please contact:
Frederic S. Fox, Esq.
Janine R. Azriliant, Esq.
Kaplan, Kilsheimer & Fox LLP
800-290-1952
212-687-1980
e-mail address: jazriliant@kkf-law.com
fax: 212-687-7714
685 Third Avenue -- 26th Floor
New York, NY 10017
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