Class Action Filed Against PLC Systems.WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Aug. 4, 1997--A securities fraud class action was commenced on Aug. 4, 1997, in the United States Dictrict Court for the District of Massachusetts entitled "Richard Berusch, et al. v. PLC Systems, Inc., et al.," Civil No. 97-11755 RGS RGS Royal Geographical Society RGS Rio Grande do Sul (Brazilian State) RGS Regulators of G Protein Signaling RGS Royal Grammar School (England) RGS Royal Grammar School (UK) , to recover damages on behalf of purchasers of the common stock of PLC Systems Inc. ("PLC" or the "Company") during the period Feb. 13, 1997 through July 29, 1997. The complaint names PLC, Robert Rudko and Max Lee Hibbs as defendants and charges each with violations of the federal securities laws. Plaintiffs allege that defendants artificially inflated the price of PLC common stock by issuing materially false and misleading statements regarding data obtained from clinical trials of the company's Heart Laser product in performing transmyocardial revascularization ("TMR TMR total mixed ration. TMR 1 Trainable mentally retarded 2 Transmyocardial revascularization, see there ") and the likelihood for the company to receive approval from the United States Food and Drug Administration United States Food and Drug Administration (FDA), n.pr a unit of the Public Health Service created to protect the health of the nation against impure and unsafe foods, drugs, and cosmetics. ("FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ") to market the product. Plaintiff is represented by the law firms of Lowey Dannenberg Bemporad & Selinger PC and Shapiro Haber & Urmy LLP LLP - Lower Layer Protocol , firms with extensive experience in prosecuting securities class actions. If you are a member of the Class described above, you may, not later than 60 days from today, move the Court to serve as lead plaintiff of the Class. In order to serve as lead plaintiff, however, you must meet certain legal requirements. CONTACT: Lowey Dannenberg Bemporad & Selinger PC William J. Ban, 914/997-0500 Email: LDBS@WESTNET WESTNET WESTern regional NETwork .COM or Shapiro Haber & Urmy LLP Thomas G. Shapiro, 800/287-8119 Email: SHU@SHU.COM |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion