Cauley & Geller, LLP Announces Class Action Lawsuit Against Rent-Way, Inc.

Business Editors/Legal Writers

BOCA RATON, Fla.--(BUSINESS WIRE)--Nov. 1, 2000

Seeking Damages On Behalf Of Shareholders

The Law Firm of Cauley & Geller, LLP announced today that it has filed a class action in the United States District Court for the Western District of Pennsylvania on behalf of all individuals and institutional investors that purchased the common stock of Rent-Way, Inc. ("Rent-Way" or the "Company") (NYSE:RWY) between January 18, 2000 and October 30, 2000, inclusive (the "Class Period").

The complaint charges that the Company and certain of its officers and directors violated the federal securities laws by providing materially false and misleading information about the Company's business and financial condition, and as a result of these false and misleading statements the Company's stock traded at artificially inflated prices during the class period. On October 30, 2000, the Company announced that it is investigating certain accounting matters, including possible accounting irregularities, which if confirmed would result in the need to revise earlier reported unaudited financial results for fiscal year 2000. In response to this announcement, the price of Rent-Way common stock declined on October 31, 2000, from $23.4375 per share to $4.75 per share, a one-day decrease of 79%.

Cauley & Geller, LLP has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Florida, Arkansas and California, but represents shareholders from throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you must meet certain requirements and take appropriate action by January 2, 2000. You are encouraged to call or e-mail the Firm or visit the Firm's website at www.classlawyer.com.