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Technology Stocks : Source Media SRCM -- Ignore unavailable to you. Want to Upgrade?

To: Rajiv who wrote (1070)	8/27/1998 7:48:00 PM
From: Rajiv	Read Replies (1) \| Respond to of 3015

Class Action Suit #4 Hoffman & Edelson And Scott & Scott LLC Announce Class Action Lawsuit Filed on Behalf of Source Media, Inc. Stockholders DOYLESTOWN, Pa.--(BUSINESS WIRE)--Aug. 27, 1998--Hoffman & Edelson and Scott & Scott, LLC announce that notice is hereby given that a class action lawsuit was filed on August 26, 1998, in the United States District Court for the District of Texas, Dallas Division, on behalf of all persons who purchased the common stock of Source Media, Inc. (NASDAQ:SRCM - news; ''Source Media'' or the ''Company''), between October 30, 1997 and August 14, 1998, inclusive (the ''Class Period''). The Complaint names as defendants Source Media and certain of its officers and/or directors, including Timothy P. Peters, W. Scott Bedford, John J. Reed, Michael J. Marocco and Barry Rubenstein. The Complaint charges defendants with violations of Section 10(b) and 20(a) of the Exchange Act in connection with, among other things, their dissemination of materially false and misleading press releases, public filings and/or statements issued during the Class Period that failed to disclose the impairment of the Company's assets, the severely limited utility of the Company's interactive technology and the effect these adverse undisclosed conditions would ultimately have on the Company's financial condition, operations and liquidity. Because of the issuance of a series of false and misleading statements, the price of Source Media common stock was artificially inflated during the Class Period. Prior to the disclosure of the adverse facts described above, certain officers and directors of Source Media sold significant amounts of Source Media stock to the unsuspecting public. These sales generated proceeds of over $33 million. Plaintiffs seek to recover damages and other relief on behalf of all members of the Class. Plaintiffs are represented by among others, the law firms of Hoffman & Edelson and Scott & Scott LLC. Hoffman & Edelson represents plaintiffs in complex litigation matters and has substantial experience in the prosecution of class actions involving securities and consumer fraud and violations of the antitrust laws. Scott & Scott LLC is a Connecticut based law firm engaged in the representation of both public and private companies in sophisticated litigation and transactional work. The firm also has a boutique practice in antitrust, securities and other complex class action litigation. If you are a member of the Class described above, you may, not later than 60 days from August 21, 1998, move the court to serve as a lead plaintiff, provided you meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights or interest with respect to these matters, please contact: ------------------------------------------------------------------------ Contact: HOFFMAN & EDELSON Marc H. Edelson, Esq. Jerold B. Hoffman, Esq. 215/230-8043 Internet address: Hofedlaw@aol.com or SCOTT & SCOTT LLC Neil Rothstein, Esq., 800/404-7770 or 215/875-5712 Internet address: Nrothstein@scott-scott.com