Abbey, Gardy & Squitieri, LLP Announces Securities Suit Filed Against K-TEL International, Inc.NEW YORK--(BUSINESS WIRE)--January 6, 1999--The following statement was issued today by the law firm of Abbey, Gardy & Squitieri, LLP LLP - Lower Layer Protocol : A Class Action has been commenced in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of on behalf of all persons who purchased K-TEL International, Inc. ("K-Tel") (NASDAQ-KTEL) securities from November 3, 1998 through November 17, 1998 (the "Class Period"). The Complaint charges K-Tel and certain of its officers and directors with violating the federal securities laws. Among other things, plaintiff claims that defendants artificially inflated the price of K-Tel common stock by issuing a series of false and misleading statements and press releases to conceal conceal, v to hide; secrete; withhold from the knowledge of others. that K-Tel had been warned that it was to be delisted from the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market. Plaintiff seeks to recover damages on behalf of all persons who purchased K-Tel securities during the Class Period, excluding the defendants and their affiliates. Plaintiff is represented by Abbey, Gardy & Squitieri, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. If you are a member of the class described above, you may, not later than January 18, 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: Lee Squitieri, Esq. Stephen J. Fearon, Jr., Esq. Abbey, Gardy & Squitieri, LLP 212 East 39th Street New York, New York 10016 TELEPHONE: (800) 889-3701 or (212) 889-3700 FAX: (212) 684-5191 E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : sfearon@a-g-s.com or lsquitieri@a-g-s.com |
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