it is my opinion that much effort has been expended by many in trying to find out the answers to these and other questions. it shouldn't take that kind of effort for a shareholder to find out what's going on with their investment. the number of shareholder class actions is increasing and there are a number of law firms that specialize in that effort. shareholders clearly have legal rights. any research i do going forward will be in determining what those rights are and how best to exercise them. i'd be interested in hearing from anyone of similar inclination. to include those just lurking you can email me at ja_iwa@fred.net - just looking for ideas and count right now. from the following examples i think it is clear that not only do we shareholders have rights - management has responsibilities and is accountable. cheers.
Examples of recent actions
Wolf Popper Files Class Action Suit Against Service Corp. International
NEW YORK, Feb. 18 /PRNewswire/ -- Notice is hereby given that a class action lawsuit has been filed against Service Corporation International (NYSE: SRV - news) in federal court in Texas. The lawsuit was filed by the law firm Wolf Popper LLP on behalf of persons who: (1) purchased Service Corporation International securities in the open market during the period July 23, 1998 through January 26, 1999; or (2) who exchanged securities issued by Equity Corporation International for Service Corporation International securities in the merger of those two companies which closed on January 19, 1999.
The Complaint charges that defendants violated the U.S. securities laws by issuing materially false and misleading statements and by omitting to disclose material facts required to be disclosed, in order to make the statements issued not materially false and misleading throughout the Class Period and in Service Corporation International's public filings related to the ECI merger.
Wolf Popper has extensive experience representing shareholders in class actions and has successfully recovered billions of dollars for defrauded investors and shareholders. The reputation and expertise of the firm in shareholder and other class action litigation has been repeatedly recognized by the courts, which have appointed the firm to major positions in complex multi-district and consolidated litigations.
Any member of the proposed class who desires to be appointed lead plaintiff in this action must file a motion with the Court no later than sixty (60) days from January 26, 1999. Class members must meet certain legal requirements to serve as a lead plaintiff. If you have questions or information regarding this action, or if you are interested in serving as a lead plaintiff in this action, you may call or write:
Paul 0. Paradis, Esq. or
Peter Safirstein, Esq.
WOLF POPPER LLP
845 Third Avenue
New York, NY 10022-6689
Telephone: 212-451-9676
212-451-9626 Toll Free: 1-877-370-7703 Facsimile: 212-486-2093 E-Mail: pparadis@wolfpopper.com or psafirst@wolfpopper.com Website: wolfpopper.com
and another
Attention Service Corporation International Shareholders: Spector & Roseman, P.C. Announces Class Action Law Suit Update
PHILADELPHIA, Feb. 18 /PRNewswire/ -- Since the filing of a class action lawsuit on behalf of all purchasers of common stock during the period of July 23, 1998 through January 26, 1999 (the ''Class Period'') it has been reported that Service Corp.'s president and chief operation officer L. William Heiligbrodt will resign.
The Complaint alleges that Service Corp. (NYSE: SRV - news), Heiligbrodt and Robert Waltrip violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The Complaint charges that the defendants issued a series of materially false and misleading statements concerning the Company's business, operations, and its prospects for future profitability. Because of the issuance of these false and misleading statements, the price of Service Corp. common stock was artificially inflated during the Class Period.
Prior to the disclosure of the adverse facts on January 26, 1999, Service Corp. sold $600 million worth of notes and completed a merger with Equity Corporation International using $576 million worth of Service Corp.'s artificially inflated common stock. If you are a member of the Class described above, you may, no later than sixty days from January 26, 1999, 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 Robert M. Roseman toll free at 1-888-844-5862 or via E-mail at spro@voicenet.com. For more detailed information about the firm please visit its website at spectorandroseman.com.
SOURCE: Spector & Roseman, P.C.
and another
Spector & Roseman, P.C. Announces Class Action Lawsuit Filed Against Theragenics Corp. and Certain Officers and Directors on Behalf of All Purchasers of Theragenics Corp. Common Stock
PHILADELPHIA, Feb. 9 /PRNewswire/ -- Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Northern District of Georgia on behalf of all purchasers of Theragenics Corp. (''Theragenics'') (NYSE: TGX - news) common stock during the period of January 29, 1998 through January 11, 1999, inclusive (the ''Class Period'') by the law firm of Spector & Roseman, P.C.
The Complaint alleges that Theragenics and certain officers and directors of the Company during the Class Period violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Complaint charges that the defendants issued a series of materially false and misleading statements concerning the Company's business, operations, and its prospects for future profitability. Specifically, the complaint alleges that Theragenics issues materially false and misleading statements relating to its relationship with Indigo Medical and the sale of Theraseed®. Because of the issuance of these false and misleading statements, the price of Theragenics common stock was artificially inflated during the Class Period. Prior to the disclosure of the true facts, certain defendants sold thousands of share of Theragenics stock realizing more than $2.7 million in proceeds.
The plaintiff seeks to recover damages on behalf of all purchasers of Theragenics common stock during the Class Period. Plaintiff is represented by the law firm Spector & Roseman, P.C., who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Spector & Roseman, P.C., located in Philadelphia, Pennsylvania and San Diego, California, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm 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 as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered on behalf of thousands of defrauded shareholders and companies. The Firm is currently representing investors as lead counsel in actions against S3, Inc., Altris Software, Dreyfus Aggressive Growth Fund, Mitcham Corporation, Vivus, Inc., and Zapata Corporation. The firm is currently representing businesses as lead counsel in the following antitrust actions: In re Flat Glass Antitrust Litigation; In re Corrugated Paper Antitrust Litigation.
If you are a member of the Class described above, you may, no later than March 16, 1999, 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 Robert M. Roseman toll free at 1-888-844-5862 or via E-mail at spro@voicenet.com. For more detailed information about the firm please visit its website at spectorandroseman.com.
SOURCE: Spector & Roseman, P.C.
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