Bernstein Litowitz Berger & Grossmann LLP Files Class Action Suit Against Fine Host Corporation.NEW YORK--(BUSINESS WIRE)--Jan. 5, 1998--Pursuant to 15 U.S.C. 77z-1(a)(3)(A)(I), Bernstein Litowitz Berger & Grossmann LLP LLP - Lower Layer Protocol hereby gives notice that on December 16, 1997, 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 was filed in the United States District Court for the District of Connecticut The United States District Court for the District of Connecticut is the Federal district court whose jurisdiction is the state of Connecticut. The court has offices in Bridgeport, Hartford and New Haven. on behalf of all persons who purchased the common stock of Fine Host Corporation ("Fine Host" or the "Company") from April 24, 1997 to December 12, 1997 (the "Class Period"). The complaint charges Fine Host and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the complaint alleges that Fine Host and certain officers and directors issued to the investing public false and misleading financial statements and press releases concerning the Company's assets, income, earnings and expenses. On December 12, 1997, the Company issued a press release announcing that it would be restating its reported financial results for the quarterly fiscal periods ended March 26, 1997, June 25, 1997 and September 24, 1997. Finally, on December 15, 1997, the Company announced that the 1997 restatement Restatement A revision in a company's earlier financial statements. Notes: The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error. will entail entail, in law, restriction of inheritance to a limited class of descendants for at least several generations. The object of entail is to preserve large estates in land from the disintegration that is caused by equal inheritance by all the heirs and by the ordinary accounting errors other than the improper capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. of expenses previously disclosed, and that "periods prior to 1997 will need to be restated." The Company further announced that it had terminated, effective immediately, the employment of its Chief Executive Officer, Richard E. Kerley, and its Treasurer, Nelson A. Barber A barber (from the Latin barba, "beard") is someone whose occupation is to cut any type of hair, give shaves, and trim beards. In previous times, barbers also performed surgery and dentistry. . The price of Fine Host's common stock closed down at $10.125 per share on December 12, 1997, a decline of 75% from a Class Period high of $41.375 per share, reached on October 6, 1997. As of December 31, 1997, trading in Fine Host's common stock remained suspended. Plaintiff is represented by the law firm of Bernstein Litowitz Berger & Grossmann LLP, which has extensive experience in prosecuting class actions on behalf of defrauded investors. If you wish to discuss this Action or have any questions concerning this notice or your rights or interests in connection therewith there·with adv. 1. With that, this, or it. 2. In addition to that. 3. Archaic Immediately thereafter. Adv. 1. , please contact Vincent R. Cappucci, a partner in Bernstein Litowitz Berger & Grossmann LLP at (800) 380-8496 or (212) 554-1400. If you are a member of the Class described above, you may, not later than 60 days from December 15, 1997, move the Court to serve as lead plaintiff for the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. CONTACT: Bernstein Litowitz Berger & Grossmann LLP Ava C. Thorin, 212/554-1429 |
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