Is this a new one?? Don't the lawyers in Philly have better things to do??
Savett Frutkin Podell & Ryan, P.C. Files Class Action Against Compaq Computer Corporation ("CPQ") On Behalf Of Options Traders
Business Wire - March 29, 1999 18:16
PHILADELPHIA--(BUSINESS WIRE)--March 29, 1999--Savett Frutkin Podell & Ryan, P.C. hereby gives notice that a class action complaint has been filed in the United States District Court for the Southern District of Texas on behalf of a Class of persons who purchased Compaq Computer Corporation (NYSE: CPQ) ("CPQ" or the "Company") common stock or call options or who sold Compaq put options at artificially manipulated prices during the period Jan. 27, 1999 through Feb. 25, 1999 (the "Class Period") and who were damaged thereby.
The complaint alleges that defendant CPQ and certain of its officers violated federal securities laws (Section 10(b) and 20(a) of the Securities Exchange Act of 1934) by misrepresenting or failing to disclose the slowdown in demand for and sales of Compaq's products in the first quarter of 1999.
As a result of defendants' false and misleading statements and omissions, the prices of Compaq common stock, call options and put options were artificially manipulated during the Class Period.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Savett Frutkin Podell & Ryan, P.C. Savett Frutkin Podell & Ryan, P.C. has extensive experience representing shareholders in class actions and has successfully recovered hundreds of millions of dollars for defrauded investors and shareholders.
The reputation and expertise of the firm in shareholder and other class action litigation has been repeatedly recognized by the courts, which have appointed the firm to major positions in complex class action litigations.
Any member of the proposed Class who desires to be appointed lead plaintiff in this action must file a motion with the Court no later than sixty (60) days from March 12, 1999. Class members must meet certain legal requirements to serve as a lead plaintiff.
If you purchased CPQ common stock or bought Compaq call options or sold Compaq put options during the Class Period or have questions or information regarding this action or your rights, you may call or write:
CONTACT: Robert P. Frutkin, Esquire
SAVETT FRUTKIN PODELL & RYAN, P.C.
325 Chestnut Street, Suite 700
Philadelphia, PA 19106
Telephone: 800/993-3233
E-mail: sfprpc@op.net
CONTACT: Savett Frutkin Podell & Ryan, P.C.
Robert P. Frutkin, Esquire
800/993-3233
E-mail: sfprpc@op.net
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