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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (1638)	2/13/2002 11:21:13 AM
From: scaram(o)uche	Read Replies (2) \| Respond to of 10345

Slotnick, Shapiro, Crocker et al...... I believe that you're a bunch of scum-sucking barf piles. "Institutional Investor".......... I hope that your name surfaces, so that we can laugh at your incompetence, JERK....... Wednesday February 13, 11:03 am Eastern Time Press Release SOURCE: SLOTNICK, SHAPIRO & CROCKER, LLP Institutional Investor Retains Slotnick, Shapiro in the Elan Shareholder Litigation NEW YORK, Feb. 13 /PRNewswire/ -- The law firm of SLOTNICK, SHAPIRO & CROCKER, LLP has been retained by an institutional investor in connection with the securities class action lawsuit filed by the firm on behalf of all persons who acquired Elan Corporation, plc (NYSE: ELN - news; ``Elan'' or the ``Company'') during the period in which the alleged fraudulent conduct of the defendants occurred. The Complaint charges Elan and certain of its officers and directors with violations of Sections 10 (b) and 20 (a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges, among other things, that defendants issued a series of materially false and misleading statements regarding the Company's financial condition. The complaint alleges that as part of their effort to boost the price of Elan securities, defendants materially overstated Elan's revenues by creating entities that were essentially controlled by Elan for research and development. Elan immediately took back its investment in the form of a license fee which it recorded as revenue. In some instances the joint ventures had no money left for the development of drugs and Elan ended up lending money to the entity. After the market closed on January 29, 2002, The Wall Street Journal described Elan's accounting as a ``charade'' and quoted a former SEC accountant as stating that it is like ``taking money out of one pocket and putting it in another.'' On this news the price of Elan's securities dropped from $35.20 to $29.25. It continued to drop after further disclosures were made. Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Elan securities during the period of alleged wrongful conduct. If you purchased or otherwise acquired securities during the Class Period, and either lost money on the transactions or still hold the securities, you may be included if the court grants class action status. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than April 5, 2002. If you are an Institutional Investor or an individual who has incurred substantial loss in your investment in Elan during the proposed Class Period, you may seek to be a lead plaintiff in the litigation. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as ``lead plaintiffs.'' Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Slotnick, Shapiro & Crocker, LLP or other counsel of your choice, to serve as your counsel in this action. SLOTNICK, SHAPIRO & CROCKER, LLP is recognized as one of the nation's preeminent litigation firms, having represented both plaintiffs and defendants in trials throughout the United States. Stephen D. Oestreich, who recently joined the Firm as Chairman of the Firm's Class Action Department, has been responsible, in more than 25 years of practice, for the recovery of hundreds of millions of dollars on behalf of shareholder class members. If you are a member of the proposed class as described above, and would like to serve as a lead plaintiff of the class, and wish to discuss the claim or have any other questions concerning the matters set forth above, please contact Stephen D. Oestreich, Esq. SLOTNICK, SHAPIRO & CROCKER, LLP 100 Park Avenue, 35th Floor New York, NY 10017 Tel.: (212) 687-5000 or Toll Free: 1-888-367-5291 Fax: (212) 687-3080 E-Mail: soestreich@sscny.com SOURCE: SLOTNICK, SHAPIRO & CROCKER, LLP