Arm Financial Group, Inc. Named by Weiss & Yourman in Class Action.NEW YORK--(BUSINESS WIRE)--Sept. 13, 1999-- The following is an announcement by the law firm of Weiss & Yourman A class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax against Arm Financial Group, Inc. ("ARM" or the "Company")(NYSE NYSE See: New York Stock Exchange :ARM) and certain individuals associated with the Company was commenced in the United States District Court for the Western District of Kentucky The United States District Court for the Western District of Kentucky is the federal district court whose jurisdiction includes the following Kentucky counties: Adair, Allen, Ballard, Barren, Breckinridge, Bullitt, Butler, Caldwell, Calloway, Carlisle, Casey, Christian, Clinton, on behalf of purchasers of ARM shares. If you purchased ARM shares between October 27, 1998 and August 3, 1999, please read this notice. The lawsuit charges ARM and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that defendants issued a series of materially false and misleading statements regarding the Company's financial condition and results of operations. These false and misleading statements caused the price of ARM's stock to be artificially inflated. Indeed, following the disclosure of ARM's true financial condition the stock price has collapsed to virtually zero. It last traded at $0.25 and currently does not trade at all. This action seeks to recover damages on behalf of defrauded investors who purchased ARM securities while ARM's true financial condition was concealed con·ceal tr.v. con·cealed, con·ceal·ing, con·ceals To keep from being seen, found, observed, or discovered; hide. See Synonyms at hide1. from public investors. Plaintiff is represented by Weiss & Yourman, a law firm possessing significant experience and expertise in prosecuting class actions on behalf of defrauded shareholders in federal and state courts throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Weiss & Yourman, which has been appointed by numerous courts to serve as lead counsel in class action lawsuits and in that capacity has recovered hundreds of millions of dollars on behalf of investors, is prosecuting this case on a contingent fee Payment to an attorney for legal services that depends, or is contingent, upon there being some recovery or award in the case. The payment is then a percentage of the amount recovered—such as 25 percent if the matter is settled, or 30 percent if it proceeds to trial. basis and will advance expenses as well. If you purchased ARM securities during the period of October 27, 1998 and August 3, 1999, you may move the court no later than October 18, 1999, to serve as a lead plaintiff of the class. In order to serve as a lead plaintiff, you must meet certain legal requirements. If you wish to receive an investor package or if you wish to discuss this action, or have any questions concerning this notice or your rights or interests with respect to this matter, or if you have any information you wish to provide to us, please contact: 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 : Richard A. Acocelli or Jack I. Zwick, (888) 593-4771 or (212) 682-3025 or via Internet electronic mail at wynyc@aol.com or by writing Weiss & Yourman, The French Building, 551 Fifth Avenue, Suite 1600, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. 10176. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion