Attention Shareholders of Maxim Group, Inc.ATLANTA--(BUSINESS WIRE)--June 7, 1999-- You are hereby notified that Chitwood & Harley has filed a securities class action in the United States District Court for the Northern District of Georgia The U.S. District Court for the Northern District of Georgia serves the residents of forty-six counties. These are divided up into four districts. The Atlanta district includes: Cherokee, Clayton, Cobb, Internet Coffe Phone, Douglas, Fulton, Gwinnett, Henry, Newton, and on behalf of a class of persons who acquired stock or other securities in Maxim Group, Inc. (NYSE NYSE See: New York Stock Exchange :MXG MXG Maintenance Group MXG Marlborough, Massachusetts MXG Merrill's Expanded Guide (to Computer Performance Evaluation) ) ("Maxim" or the "Company") between September 1, 1998 and May 19, 1999 (the "Class Period"). The complaint alleges that Maxim and certain of its top officers violated the federal securities laws and inflated the company's stock price by issuing false and misleading statements regarding the Company's revenues for the 2nd, 3rd, and 4th quarters of fiscal 1999. On May 19, the Company was forced to restate its financials for those periods, resulting in a 15% drop in stock price on very heavy trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. . The complaint further alleges that before the restatement was announced, certain insiders took advantage of their knowledge of the Company's true state of affairs by selling more than $25,000,000 worth of Maxim stock. Plaintiffs seek to recover damages on behalf of all investors who acquired Maxim securities during the Class Period. Plaintiffs are represented by Chitwood & Harley, an Atlanta law firm that concentrates its practice in representing victims of securities fraud and corporate mismanagement mis·man·age tr.v. mis·man·aged, mis·man·ag·ing, mis·man·ag·es To manage badly or carelessly. mis·man  age·ment n. , as well as other complex litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.When a person begins a civil lawsuit, the person enters into a process called litigation. . The firm has served as lead counsel in several major actions pending in both federal and state courts and has been instrumental in recovering millions of dollars on behalf of investors and shareholders. If you acquired Maxim securities during the Class Period, you have until July 19, 1999 to participate in the case and ask the Court to appoint you as a lead plaintiff for the Class. In order to serve as lead plaintiff, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights with respect to this matter, contact Corey D. Holzer, Esq. (888) 873-3999 (toll-free), Chitwood & Harley, 2900 Promenade II Promenade II is a 691-foot (211-meter) tall skyscraper in Midtown Atlanta. It has 40 stories of office space and its construction was completed in 1990. It is currently the seventh-tallest skyscraper in Atlanta. , 1230 Peachtree Street, N.E., Atlanta, Georgia 30309. For more information about Chitwood & Harley, visit www.classlaw.com. |
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