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Biotech / Medical : SABRATEK CORP (SBTK) -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (454)	8/24/1999 8:08:00 PM
From: celeryroot.com	Respond to of 487

sorry if this posted before NEW YORK, Aug. 24 /PRNewswire/ -- Sabratek Corp. (Nasdaq: SBTK) and one of its senior officers have been named in a securities lawsuit filed on August 24, 1999 in the U.S. District Court for the Northern District of Illinois. The lawsuit was filed on behalf of all persons who purchased Sabratek common stock during the period May 11, 1999 through August 13, 1999. The Complaint alleges that the repeated misleading positive announcements made by Sabratek during the class period left the unmistakable impression that the company was in the midst of numerous positive acquisitions that would be extremely beneficial to its shareholders. The defendants failed to disclose that at the very same time they were making these positive announcements, the company's business was in disarray and its earnings for the upcoming quarter would be nowhere near what the marketplace had been led to believe. Investors who purchased Sabratek common stock during the class period have until October 23, 1999 to seek to be a lead plaintiff in the class action, commenced by the law firm of Wolf Popper LLP. Wolf Popper LLP has successfully recovered billions of dollars for defrauded investors and shareholders. The reputation and expertise of the firm in shareholder and other class action litigation have been repeatedly recognized by the courts, which have appointed the firm lead counsel in complex multi-district and consolidated litigations. Persons with information or questions concerning the class action should contact Wolf Popper LLP through its toll-fee number (877-370-7703), or at canderson@wolfpopper.com. CONTACT: Catherine E. Anderson, Esq. Wolf Popper LLP 845 Third Avenue New York, NY 10022-6689 Telephone: 212-451-9623 Toll Free: 877-370-7703 Facsimile: 212-486-2093 E-Mail: canderson@wolfpopper.com or wolfpopper@aol.com Website: wolfpopper.com

To: RockyBalboa who wrote (454)	10/7/1999 1:01:00 PM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 487

The wheels turn slowly but the end is at hand. Pluvia may be overseas but Shan is doubtless feeling his FIST yet again today. Sabratek to delay 10-Q again, may be delisted NEW YORK, Oct 7 (Reuters) - Medical technology company Sabratek Corp. (NasdaqSC:SBTK - news) on Thursday said it will further delay the filing of its second-quarter earnings report, which could result in its being delisted if Nasdaq does not grant an extension. The Skokie, Ill.-based company said it will meet with the Nasdaq Listing Qualifications Panel on Thursday to determine its continued eligibility to remain listed on Nasdaq. Sabratek said the second-quarter earnings filing will be delayed until its board of directors reviews recently-proposed adjustments to previously-reported financial results. Sabratek said the adjustments would reduce reported pre-tax earnings for the periods April 1, 1997 through March 31, 1999 by approximately $39 million. Sabratek first delayed the financial report in August after warning its second-quarter earnings would fall ``significantly' below expectations. It received notice of potential delisting from Nasdaq the following week. The adjustments being reviewed by the board relate primarily to reclassifying intangible assets as expenses and accounting for amounts advanced to affiliated companies as expenses rather than as loans. Sabratek's board also is considering other accounting issues raised by the company's chief financial officer. The company did not provide detail about those accounting issues. ``The Board of Directors began its review and consideration promptly following notification of these matters,' Sabratek Chairman Edson W. Spencer, Jr. said. ``However, due to the magnitude and complexity of the proposed adjustments and other accounting issues, the Board of Directors has determined that additional time is needed before it can recommend releasing financial statements,' he said.