Class Action Filed Against Olsten and Certain of Its Officers and Directors Alleging Violations of Federal Securities Law.NEW YORK--(BUSINESS WIRE)--Sept. 22, 1997--A class action has been commenced in the United States District Court for the Eastern District of New York EDNY redirects here, for other uses see EDNY (disambiguation). The United States District Court for the Eastern District of New York is the federal district court whose jurisdiction comprises the entirety of Long Island (including the portion in New York City) and Staten , on behalf of purchasers of Olsten Corp. ("Olsten" or the "Company") common stock during the period March 6, 1996 through July 16, 1997, inclusive (the "Class Period"). The Complaint alleges that Olsten Corp. and certain of its officers and directors violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, failing to disclose to the investing public that a material amount of the Company's income was being derived from the filing of materially inaccurate and inflated Medicare cost reports, that Quantum Health Resources Inc. which the Company acquired, had made fraudulent gifts to patients, their relatives and their physicians to induce them to accept more product than needed, and that the Company structured transactions with healthcare providers so as to increase government reimbursements. The Complaint alleges that as a result of these omissions Olsten's stock price was artificially inflated throughout the Class Period. Plaintiff seeks to recover damages suffered by class members and is represented by the law firm of Rabin & Peckel LLP LLP - Lower Layer Protocol . Rabin & Peckel LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial 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. for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . If you are a member of the class described above, you may, on or before Oct. 6, 1997 move the court to serve as lead plaintiff of the class, of you so choose. To serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this announcement or your rights or interests, please contact Marvin L. Frank or Joseph V. McBride, Rabin & Peckel LLP, 275 Madison Ave., 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 , N.Y. 10016, by telephone at (800) 497-8076 or (212) 682-1818, by facsimile at (212) 682-1892, by e-mail at rabinlaw@ix.netcom.com, or by Bloomberg e-mail. CONTACT: Rabin & Peckel LLP, New York Joseph V. McBride or Brian Murray Also see Bryan Murray, a disambiguation page. Brian Murray (born September 10 1937) is a South African actor and theatre director. Born in Johannesburg, Murray made his Broadway debut in the play All in Good Time in 1965. (800) 497-8076 (212) 682-1818 rabinlaw@ix.netcom.com |
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