FYI in case you haven't seen this on KTEL.
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Abbey, Gardy & Squitieri, LLP Announces Securities Suit Filed Against K-TEL International, Inc.
NEW YORK, Dec. 18 /PRNewswire/ -- The following statement was issued today by the law firm of Abbey, Gardy & Squitieri, LLP:
A Class Action has been commenced in the United States District Court for the Southern District of New York on behalf of all persons who purchased K-TEL International, Inc. ("K-Tel") (Nasdaq: KTEL) securities from November 3, 1998 through November 17, 1998 (the "Class Period").
The Complaint charges K-Tel and certain of its officers and directors with violating the federal securities laws. Among other things, plaintiff claims 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.
Plaintiff seeks to recover damages on behalf of all persons who purchased K-Tel securities during the Class Period, excluding the defendants and their affiliates. Plaintiff is represented by Abbey, Gardy & Squitieri, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud.
If you are a member of the class described above, you may, not later than January 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:
Lee Squitieri, Esq.
Stephen J. Fearon, Jr., Esq.
Abbey, Gardy & Squitieri, LLP
212 East 39th Street
New York, New York 10016
TELEPHONE: 800-889-3701 or 212-889-3700
FAX: 212-684-5191
E-MAIL: sfearon@a-g-s.com or
lsquitieri@a-g-s.com
SOURCE Abbey, Gardy & Squitieri, LLP
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