Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : USAT Long Distance Telecommunications -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (181)	1/29/1999 7:54:00 PM
From: Don Pueblo	Respond to of 397

Milberg Weiss Files Class Action Suit Against USA Talks.com Inc. and Its Officers and Directors Alleging Misrepresentations Friday January 29, 6:30 pm Eastern Time Company Press Release SAN DIEGO--(BUSINESS WIRE)--Jan. 29, 1999--Milberg Weiss today announced that a class action has been commenced in the United States District Court for the Southern District of California on behalf of purchasers of USA Talks.com Inc. (''USA Talks'') (NASDAQ:USAT - news) common stock during the period between Nov. 24, 1998 and Jan. 29, 1999 (the ''Class Period''). The complaint charges USA Talks and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that USA Talks and certain of its key officers and directors engaged in a scheme and common plan to defraud that caused USA Talks'stock price to rise from approximately $5.75 per share to a Class Period high of approximately $52.25 per share by misrepresenting USA Talks' publicly reported network installation and technology for riding the wave of shareholder interest that has been sweeping the Internet stock industry. On Jan. 29, 1999, the SEC halted trading in USA Talks common stock ''citing questions about the accuracy of information released to the public by the company.'' Plaintiff seeks to recover damages on behalf of all purchasers of USA Talks common stock during the Class Period (the ''Class''). The plaintiff is represented by two law firms, including Milberg Weiss Bershad Hynes & Lerach LLP, who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Milberg Weiss has been actively engaged in commercial litigation, emphasizing securities and antitrust class actions, for more than 30 years. The firm has offices in New York, San Diego, San Francisco, Los Angeles and Boca Raton and is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to major positions in complex multi-district or consolidated litigations. Milberg Weiss has taken a lead role in numerous important actions on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion. Visit the firm's website at milberg.com. If you are a member of the Class described above, you may, no later than 60 days from today, 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. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, William Lerach, Alan Schulman or Darren Robbins of Milberg Weiss at 800/449-4900 or via e-mail at wsl@mwbhl.com. Contact: Milberg Weiss Bershad Hynes & Lerach LLP William Lerach, 800/449-4900 wsl@mwbhl.com biz.yahoo.com