Berger & Montague, P.C. Files Class Action Lawsuit Against Sotheby's Holdings, Inc.Business Editors/Hi-Tech Writers PHILADELPHIA--(BUSINESS WIRE)--March 3, 2000 The following notice is issued by the law firm of Berger & Montague, P.C. on behalf of its clients, who on February 29, 2000, filed a lawsuit 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 the common stock of Sotheby's Holdings, Inc. (NYSE NYSE See: New York Stock Exchange :BID) during the period of February 11, 1997 through January 28, 2000 inclusive (the "Class Period"). The complaint charges Sotheby's Holdings, Inc. and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 of the Securities Exchange Commission. The lawsuit alleges that defendants issued a series of false and misleading statements during the Class Period concerning the Company's revenues. The complaint alleges that defendants failed to reveal that during the Class Period, Sotheby's revenues were both reliant upon, and unsustainable in the absence of an alleged price fixing price fixing n. a criminal violation of federal anti-trust statutes, in which several competing businesses reach a secret agreement (conspiracy) to set prices for their products to prevent real competition and keep the public from benefiting from price competition. arrangement with Christie's International PLC. The complaint also asserts that defendants' false and misleading statements artificially inflated the price of the Company's stock during the Class Period. If you purchased Sotheby's Holdings, Inc. common stock between February 11, 1997 and January 28, 2000 you may move the Court no later than April 11, 2000 to serve as lead plaintiff for the Class. In order to serve as lead plaintiff, you must meet certain legal standards. The law firm of Berger & Montague, P.C., has over 50 attorneys, all of whom represent plaintiffs in 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 Berger firm has extensive experience representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries in excess of two billion dollars to investors. The firm is currently representing investors as lead counsel in actions against Waste Management, Inc Waste Management, Inc. (NYSE: WMI) is a waste management, comprehensive waste, and environmental services company in North America. The company's network includes 413 collection operations, 370 transfer stations, 283 active landfill disposal sites, 17 waste-to-energy plants, ., Sunbeam, Alcatel, Boston Chicken and IKON Office Solutions IKON Office Solutions (NYSE: IKN) is a Fortune 500 company based in Malvern, Pennsylvania. Formerly part of ALCO Standard. IKON integrates copy machines and fax systems to assist businesses. , Inc. The standing of Berger & Montague, P.C. in successfully conducting major securities and antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. litigation has been recognized by numerous courts. For example: "The quality of lawyering on both sides, but I am going to stress now on the plaintiff side, simply has not been exceeded in any case ... but they really don't come any better than Ms. Savett ... plaintiffs counsel were as good as they get." In Re U.S. Bioscience Securities Lit., Civil Action No. 92-0678 (E.D. Pa.) (Settled in 1995 for $15.25 million) "... you have acted the way lawyers at their best ought to act. And I have had a lot of cases ... in 15 years now as a judge and I cannot recall a significant case where I felt people were better represented than they are here ... I would say this has been the best representation that I have seen." In Re Waste Management, Inc. Securities Litigation, Civil Action No. 97-C 7709 (N.D. Ill.) (Settled in 1999 for $220 million) If you have any questions about this notice or the action, or with regard to your rights, please contact: Sherrie R. Savett at 888/891-2289, 1622 Locust locust, in botany locust, in botany, any species of the genus Robinia, deciduous trees or shrubs of the family Leguminosae (pulse family) native to the United States and Mexico. Street, Philadelphia, PA 19103. If you prefer you can e-mail the firm at InvestorProtect@bm.net with your name, mailing address and telephone number. Sherrie R. Savett, Esquire Gary E. Cantor, Esquire Kimberly A. Walker, Investor Relations Investor relations The process by which the corporation communicates with its investors. Manager Berger & Montague, P.C. 1622 Locust Street Philadelphia, PA 19103 215/875-3000 888/891-2289 Fax: 215-875-4604 website: http://home.bm.net Email: InvestorProtect@bm.net SOURCE: Berger & Montague, P.C. |
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