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Class Action Suit Filed Against Equisure Inc. and Its Officers, Directors and Accountants Alleging Misrepresentations and False Financial Statements.


BALA CYNWYD Cynwyd is a small village in Denbighshire, Wales, about two miles south-west of the town of Corwen. It is home to a large factory, run by Ifor Williams Trailers. See also
  • Bala Cynwyd, Pennsylvania
, Pa.--(BUSINESS WIRE)--Sept. 16, 1997--A class action has been commenced 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.
 of Minnesota on behalf of purchasers of Equisure Inc. ("Equisure") common stock during the period Dec. 5, 1996 to Aug. 1, 1997.

The complaint charges Equisure and certain of its subsidiaries, affiliates, officers, directors and accountants with violations of the federal securities laws.

The complaint alleges a fraudulent scheme Noun 1. fraudulent scheme - an illegal enterprise (such as extortion or fraud or drug peddling or prostitution) carried on for profit
illegitimate enterprise, racket
 and course of business by defendants to artificially inflate inflate - deflate  Equisure's stock price by issuing false and misleading statements concerning Equisure's business and financial results so that certain Equisure insiders could reap substantial profits from trading in Equisure's common stock.

On Aug. 4, 1997, the American Stock Exchange American Stock Exchange (AMEX)

Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921.
 halted trading of Equisure common stock pending an investigation of the company's accounting practices and trading in its stock.

Following the investigation, during which Equisure failed to produce financial records, the company agreed to be delisted from the American Stock Exchange.

Plaintiffs seek to recover damages on behalf of all purchasers of Equisure common stock during the Class Period (the "Class"). The plaintiffs are represented by several law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
  1. Clifford Chance, £1,030.2m – International law firm (headquartered in the UK);
  2. Linklaters, £935.
, including Schiffrin & Craig Ltd., who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Schiffrin & Craig Ltd. maintains offices in Bala Cynwyd, Pa., Buffalo Grove Buffalo Grove

A village of northeast Illinois, a suburb of Chicago. Population: 43,300.
, Ill., and Voorhees, N.J. and is active in major litigations pending in federal and state courts 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. .

Schiffrin & Craig has taken a leading role in numerous important actions on behalf of defrauded investors and is responsible for a number of outstanding recoveries.

If you are a member of the Class described above, you may, no later than 60 days from today, move the Court to serve as lead plaintiff of the Class, if you so choose.

In order 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 notice or your rights or interests, please contact plaintiff's counsel Andrew L. Barroway of Schiffrin & Craig Ltd. at 610/667-7706.

CONTACT: Schiffrin & Craig Ltd.

Andrew L. Barroway, 610/667-7706
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Sep 16, 1997
Words:351
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