Bernstein Liebhard & Lifshitz, LLP Files Class Action Complaint With Expanded Class Period Against Waste Management Inc.NEW YORK--(BUSINESS WIRE)--Aug. 17, 1999-- The following was released today by Bernstein Liebhard & Lifshitz, LLP LLP - Lower Layer Protocol : A securities 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 was commenced on behalf of purchasers of the common stock of 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, .(NYSE NYSE See: New York Stock Exchange :WMI (Windows Management Instrumentation) A programming interface (API) in Windows that allows system and network devices to be configured and managed. WMI is based on WBEM, which stores all definitions in a CIM database. ) ("Waste Management" or the "Company"), between March 31, 1999 and July 28, 1999, inclusive, (the "Class Period"), in the United States District Court for the Southern District of Texas The United States District Court for the Southern District of Texas is the Federal district court with jurisdiction over the southern part of Texas and is a part of the Fifth Circuit. The court's headquarters is in Houston, Texas and has six additional offices in the district. . Plaintiff's Counsel had previously commenced a class action lawsuit on behalf of all purchasers of the Company's common stock between May 6, 1999 and July 6, 1999. The complaint charges Waste Management and certain of its officers and directors with violations of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated prom·ul·gate tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates 1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce. 2. thereunder. The complaint alleges that the defendants issued materially false and misleading statements and failed to disclose material facts throughout the Class Period in the Company's public filings and public statements. As a result of these misrepresentations and omissions, the price of Waste Management's common stock was artificially inflated throughout the Class Period. During the Class Period, certain Company insiders sold tens of thousands of their own shares to unsuspecting investors at artificially inflated prices, reaping over $78 million in profits. If you purchased or otherwise acquired Waste Management securities during the Class Period, and either lost money on the transaction or still hold the stock, you may wish to join in the action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than 60 days from July 9, 1999. If you would like to discuss this action or if you have any questions concerning this Notice or your rights as a potential class member or lead plaintiff, you may contact Mel E. Lifshitz, Esq., or Ms. Nicole Meyer, Director of Shareholder Relations at Bernstein Liebhard & Lifshitz, LLP, 10 East 40th Street, New York, New York 10016, (800) 217-1522 or 212-779-1414 or by e-mail at wasteman@bernlieb.com. |
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