Cauley & Geller, LLP Announces Class Action Lawsuit Against Turkcell Iletisim Hizmetler, A.S.Business Editors BOCA RATON, Fla.--(BUSINESS WIRE)--Dec. 15, 2000 Seeking Damages On Behalf Of Shareholders The Law Firm of Cauley & Geller, LLP LLP - Lower Layer Protocol announced today that it has filed a class action 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 individuals and institutional investors that purchased the securities of Turkcell Iletisim Hizmetler ("Turkcell" or the "Company") (NYSE NYSE See: New York Stock Exchange :TKC TKC tightly-knit community TKC Tom Kita Chara (scouting) TKC Thomas Kvamme Consulting (Norway) ) between their initial public offering ("IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ") on July 10, 2000 and September 21, 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 a materially false and misleading Registration Statement and Prospectus. Specifically, the Registration Statement and Prospectus, which offered American Depository Shares ("ADS") to the public at $17.60 per ADS, were materially false and misleading because they misrepresented the "churn" rate for Turkcell (the rate at which Turkcell was losing customers) by a factor of at least 30. When the truth was revealed, Turkcell ADSs fell to $9 5/16 each, representing a significant loss from the IPO price. 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 February 2, 2001. You are encouraged to call or e-mail the Firm or visit the Firm's website at www.classlawyer.com. |
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