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To: StockDung who wrote (8930)	7/22/2000 11:16:11 PM
From: who cares?	Respond to of 10354

biz.yahoo.com Investors Sue Officers and Directors of Creditrust Corporation Alleging False Financial Reporting PHILADELPHIA, July 22 /PRNewswire/ -- On July 14, 2000, an investor represented by the law firm of Berger & Montague, P.C., filed a class action complaint in the United States District Court for the District of Maryland on behalf of all persons who purchased the common stock of Creditrust Corporation (Nasdaq: CRDT - news, CRDTQ - news) during the period of July 29, 1998 through March 31, 2000 (the ``Class Period''). Creditrust Corporation (``Creditrust''), which recently filed a voluntary petition for protection from creditors under Chapter 11 of the Bankruptcy Code, purchases non-performing credit card debt, securitizes its portfolio of loans, and attempts to collect on that debt. The plaintiff-investor alleges that defendants, certain officers and director of Creditrust, caused Creditrust to manipulate Creditrust's estimated recovery amounts on its bad debt receivables. The result of that manipulation was the inflation of Creditrust's revenue and pre-tax earnings by at least $4.9 million for the fiscal year 1999 alone. As a result, the plaintiff alleges, the stock price of Creditrust was artificially inflated during the Class Period, causing the plaintiff, and others who purchased Creditrust stock during the Class Period to suffer damages. Moreover, one defendant sold over 500,000 shares of his personal holdings during the Class Period, reaping over $18 million in proceeds while the price of Creditrust stock was artificially inflated. Plaintiff seeks to recover damages on behalf of all purchasers of Creditrust common stock during the Class Period (the ``Class''). If you are a member of the Class described above, you may, no later than September 12, 2000 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. The law firm of Berger & Montague, P.C. has over 50 attorneys, representing plaintiffs in complex litigation. The Berger firm has extensive experience representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries in excess of two billion dollars to investors. The firm is currently representing investors as lead counsel in actions against Waste Management, Inc., Sunbeam, Alcatel, Boston Chicken and IKON Office Solutions, Inc. The standing of Berger & Montague, P.C. in successfully conducting major securities and antitrust litigation; has been recognized by numerous courts. For example: If you purchased Creditrust Corporation common stock during the Class Period, or have any questions concerning this notice or your right with respect to this matter, you may contact: Todd S. Collins, Esquire Kimberly A. Walker, Investor Relations Manager Berger & Montague, P.C. 1622 Locust Street Philadelphia, PA 19103 215-875-3000 888-891-2289 Fax: 215-875-4604 Website: home.bm.net e-mail: InvestorProtect@bm.net Law Offices of Bruce G. Murphy 265 Llwyds Lane Vero Beach, Florida, 32963 561-231-4202 SOURCE: Berger & Montague, P.C.