To: VALUESPEC who wrote (32634 ) 4/23/1998 4:45:00 PM From: topwright Read Replies (2) | Respond to of 41046
VS, Go figure after such a strong recommendation. . I guess it happens even to the great stockpickers of all time. Feel for you. RB First the CEO of their favorite company dumps on a Form 4 (sold) not a Form 144, then this, (PR NEWSWIRE) DJ: Notice of Filing of Class Action Against Cendant Corp. DJ: Notice of Filing of Class Action Against Cendant Corp. WHITE PLAINS, N.Y.--(BUSINESS WIRE)--April 23, 1998-- A class action suit was filed today in the United States District Court for the District of New Jersey on behalf of purchasers of the common stock of Cendant Corporation ("Cendant") during the period December 18, 1997 through April 15, 1998, inclusive (the "Class Period"). The complaint charges Cendant and certain of its officers with violations of the anti-fraud provisions of the federal securities laws (Section 10(b) the Securities Exchange Act of 1934) by making materially false and misleading statements and omitting from disclosure material facts about Cendant's results of operations and financial condition during the Class Period. In particular, the complaint alleges that Cendant's earnings for the year ending December 31, 1997 were overstated by more than $100 million. The complaint alleges that Cendant made the materially false and misleading statements and omissions in order to support and inflate the price of Cendant common stock and thus enable defendants to profit from insider sales of Cendant stock. Plaintiffs seek to recover damages on behalf of all purchasers of Cendant common stock during the Class Period. Plaintiffs are represented by the law firm of Lowey Dannenberg Bemporad & Selinger, P.C., a firm with extensive experience prosecuting class and securities fraud actions on behalf of shareholders. Any member of the proposed class may move the Court to serve as lead plaintiff on or before June 15, 1998. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, your ability to serve as lead plaintiff or any questions concerning this notice or your rights or interests with respect to these matters, please contact: Neil Selinger, Esq. William J. Ban, Esq. LOWEY DANNENBERG BEMPORAD & SELINGER, P.C., The Gateway, One North Lexington Avenue White Plains, New York, 10601 (914) 997-0500 e-mail address: ldbs@westnet.com CONTACT: LOWEY DANNENBERG BEMPORAD & SELINGER, P.C. Neil Selinger, Esq. William J. Ban, Esq. (914) 997-0500 e-mail address: ldbs@westnet.com *** end of story ***