Cohen, Milstein, Hausfeld & Toll, PLLC, Files Securities Fraud Class Action Against Avista Corp.Business Editors & Legal Writers SEATTLE--(BUSINESS WIRE)--Aug. 10, 2000 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, Hausfeld & Toll, P.L.L.C., has filed a class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax on behalf of all persons who purchased the common stock of Avista Corp. (NYSE NYSE See: New York Stock Exchange :AVA Ava, in the Bible Ava (ā`və), in the Bible, an unidentified city of Mesopotamia, perhaps the same as Ivah. Its inhabitants are called Avites. ) between April 25, 2000 through June 20, 2000. The suit, filed in the Eastern District of Washington, seeks to recover under the federal securities laws for damages sustained by members of the proposed Class. Avista and its president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. are named as defendants. The complaint alleges that the defendants' statements that Avista Utilities did not generally hold energy commodity instruments for speculative trading purposes, but rather engaged in the trading of energy commodity instruments contracts in order to hedge against price fluctuations associated with the management of resources, was false. In truth, Avista Utilities traded in such instruments for purpose of speculation. As a result, the company lost tens of millions of dollars by holding significant short positions in Northwest power in the face of rising energy prices. The suit also alleges that the defendants' statements regarding, among other things, the purported "strong performance" of the Avista Utilities unit were misleading due to defendants' omission of the facts concerning Avista Utilities' large short position and the many millions of dollars it would cost the Company to cover the position. Persons who are members of the Class described above have sixty days from July 28, 2000 to move the court if they desire to serve as lead plaintiffs in the case. In order to serve as a lead plaintiff, you must met certain legal requirements. Counsel for the plaintiff is the law firm of Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (www.cmht.com). Cohen, Milstein has significant experience in prosecuting investor class actions and actions involving financial fraud, and has offices in Seattle, Washington  This page is protected from moves until disputes have been resolved on the .The reason for its protection is listed on the protection policy page. , and Washington D.C. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to lead positions in complex multi-district or consolidated 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. , including numerous important cases on behalf of defrauded investors. If you have questions concerning serving as a lead plaintiff, the case or your rights, you may contact either of the following: Steven J. Toll (stoll@cmht.com) or Clarence Williams For the running back of the same name see Clarence Williams (football player). For the defensive end of the same name see Clarence Williams (defensive lineman). Clarence Williams (cwilliams@cmht.com) of Cohen, Milstein, Hausfeld & Toll, P.L.L.C., 999 Third Ave., Suite 3600, Seattle, WA 98104. Phone: 888/240-1238 or 206/521-0080. |
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