Cohen, Milstein, Hausfeld & Toll, P.L.L.C. Files Class Action Suit Against Tel-Save Holdings Inc.SEATTLE--(BUSINESS WIRE)--July 9, 1998--The following Notice is issued by the law firm of Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , Milstein Mil·stein , Cesar 1927-2002. Argentinian-born British immunologist. He shared a 1984 Nobel Prize for developing a method of producing monoclonal antibodies. , Hausfeld & Toll, P.L.L.C., on behalf of its client, who on July July: see month. 9, 1998, filed a lawsuit lawsuit: see procedure; tort. in the United States District Court for the Eastern District of Pennsylvania The United States District Court for the Eastern District of Pennsylvania is one of the original 13 federal judiciary districts created by the Judiciary Act of 1789. It originally sat in Independence Hall in Philadelphia as the United States District Court for the District of on behalf of purchasers of the common stock of Tel-Save Holdings, Inc. (Nasdaq:TALK) between Aug. 14, 1997, and May 22, 1998, inclusive (the "Class Period"). The Complaint charges the company, and certain of its officers and directors, with violations of the federal securities laws for disseminating dis·sem·i·nate v. dis·sem·i·nat·ed, dis·sem·i·nat·ing, dis·sem·i·nates v.tr. 1. To scatter widely, as in sowing seed. 2. false and misleading statements concerning Tel-Save's financial condition. Particularly, the complaint alleges that defendants misrepresented the nature of certain related party transactions which had the effect of artificially inflating the stock price. Plaintiff's counsel in this action -- Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (www.cmht.com) -- has significant experience in prosecuting investor class actions and actions involving financial fraud. The firm has offices in Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. , D.C., and Seattle and is active in major 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. pending in federal and state courts throughout the nation. The firm's reputation for excellence has been recognized on repeated occasion by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen, Milstein, Hausfeld & Toll, P.L.L.C., has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total hundreds of millions of dollars. If you are a member of the class who purchased Tel-Save Holdings, Inc. common stock during the "Class Period" (Aug. 14, 1997 -- May 22, 1998), you may move the court, no later than Aug. 17, 1998, to serve as lead plaintiff for the class. In order to serve as lead plaintiff, you must meet certain legal standards. If you have any questions about this notice or the action, or with regard to your rights, please contact any one of the following attorneys: Andrew N. Friedman (afriedman@cmht.com) at 888/240-0775 or 202/408-4600 or Steven J. Toll (stoll@siteconnect.com) at 888/240-1238 or 206/521-0080.
CONTACT: Cohen, Milstein, Hausfeld & Toll
Steven J. Toll, 888/240-1238
206/521-0080
stoll@siteconnect.com
OR
Andrew N. Friedman, 888/240-0775 or 202/408-4600
afriedman@cmht.com
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