Anicom, Inc. Accused Of Defrauding Shareholders In Class Action Brought By Berman DeValerio & Pease.Business Editors/Legal & Law Writers BOSTON--(BUSINESS WIRE)--Sept. 6, 2000 Anicom, Inc. (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 :ANIC ANIC Australian National Insect Collection ANIC American National Insurance Company ANIC Anosmia, Isolated Congenital ANIC ATM Network Interface Card (Cisco) ) shareholders have accused the company of securities fraud in a pending class-action lawsuit brought by Berman, DeValerio & Pease pease n. pl. pease or peas·en Archaic A pea. [Middle English; see pea. , LLP LLP - Lower Layer Protocol (www.bermanesq.com), a law firm that has represented wronged investors for nearly two decades. The action, filed in the United States District Court for the Northern District of Illinois The United States District Court for the Northern District of Illinois is the Federal district court whose jurisdiction comprises the following counties, divided into two divisions: , seeks damages on behalf of all investors who bought Anicom common stock between February 24, 1998 and July 18, 2000 (the "Class Period"). The complaint says Anicom engaged in "accounting irregularities" that rendered its 1998 and 1999 financial statements unreliable and could result in a restatement Restatement A revision in a company's earlier financial statements. Notes: The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error. of as much as $35 million of previously reported revenue. Anicom has placed its President/CEO and CFO See Chief Financial Officer. on administrative leave while it conducts its investigation. As a result of the company's July 18 announcement, NASDAQ halted trading in Anicom stock; as of the date of this press release, trading has not resumed. On September 1, Anicom said it expected to complete an internal investigation of its accounting practices by the end of the month. If you purchased Anicom common stock during the period February 24, 1998 through July 18, 2000, you may wish to contact the lawyers at Berman, DeValerio & Pease to discuss your rights and interests: Jennifer Finger, Esq. Jeffrey C. Block, Esq. Berman, DeValerio & Pease LLP One Liberty Square, Boston, MA 02109 E-Mail: bdplaw@bermanesq.com (800) 516-9926 You can also visit us at our website at www.bermanesq.com. If you wish to apply to be lead plaintiff in this action, a motion must be filed on your behalf with the court no later than September 18, 2000. To be a member of the class you need not take any action at this time and you may retain counsel of your own choice. To serve as lead plaintiff, however, you must meet certain legal requirements. You may contact the attorneys at Berman, DeValerio & Pease to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. With offices in Boston and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Berman, DeValerio & Pease LLP has prosecuted shareholder class actions since 1982, recovering more than $1 billion for defrauded investors during that time. The firm has acted as lead counsel in numerous lawsuits in which its clients accused companies of violating federal securities laws. It has successfully litigated these actions and has been singled out for its excellence by many courts. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion