Baker Hughes' Shareholders Have 3 More Days to Seek Appointment as Lead Plaintiff.Business Editors &Legal Writers NEW YORK--(BUSINESS WIRE)--Feb. 4, 2000 The following is an announcement by the law firm of Pomerantz Haudek Block Grossman &Gross LLP LLP - Lower Layer Protocol : According to Pomerantz Haudek Block Grossman &Gross LLP (www.pomerantzlaw.com) and the Law Office of Klari Neuwelt, which have filed 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 Baker Hughes, Inc. (&uot;Baker Hughes&uot; or the &uot;Company&uot;) (NYSE NYSE See: New York Stock Exchange :BHI BHI Baker Hughes Incorporated BHI Brain Heart Infusion (agar) BHI Better Hearing Institute BHI British Horological Institute (UK) BHI Boots Healthcare International BHI Branch If Higher ) and two of the Company's senior officers on behalf of all Baker Hughes shareholders who purchased the Company's common stock during the &uot;Class Period&uot; (May 3, 1999 and December 8, 1999, inclusive), shareholders have 3 days remaining (until February 7, 2000) to seek appointment by the Court as one of the lead plaintiffs in this action. The lawsuit charges that Baker Hughes allegedly issued a series of materially false and misleading statements during the Class Period and allegedly manipulated reported revenue at the Company's largest business unit and incorporated the overstated o·ver·state tr.v. o·ver·stat·ed, o·ver·stat·ing, o·ver·states To state in exaggerated terms. See Synonyms at exaggerate. o earnings with its consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge in violation of Generally Accepted Accounting Principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting . If you purchased Baker Hughes common stock during the Class Period, you have until February 7, 2000 to ask the Court to appoint you as one of the lead plaintiffs 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, please contact Andrew G. Tolan, Esq. of the Pomerantz firm at 888-476-6529 (or (888) 4-POMLAW), toll free, or at agtolan@pomlaw.com by e-mail. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. The Pomerantz firm is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class 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. . Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz firm pioneered the field of securities class actions. Today, over 50 years later, the Pomerantz firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion dollar damages awards on behalf of class members. The Law Office of Klari Neuwelt also has substantial experience in similar litigation. |
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