Court Appointed Lead Counsel Milberg Weiss Intends to Expand Sabratek Class Period.NEW YORK--(BUSINESS WIRE)--August 19, 1999-- The following was released today by Milberg Weiss Bershad Hynes & Lerach LLP LLP - Lower Layer Protocol : Lead Counsel Milberg Weiss Bershad Hynes & Lerach LLP ("Milberg Weiss") in the pending securities fraud class action 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. involving Sabratek Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SBTKE) ("Sabratek" or the "Company"), is currently preparing an amended complaint amended complaint n. what results when the party suing (plaintiff or petitioner) changes the complaint he/she has filed. It must be in writing, and can be done before the complaint is served on any defendant, by agreement between the parties (usually their lawyers), which will extend the class period through August 23, 1999. By Order dated April 28, 1999, the United States District Court for the Northern District of Illinois The United States District Court for the Northern District of Illinois is the Federal district court whose jurisdiction comprises the following counties, divided into two divisions: appointed Milberg Weiss Lead Counsel in this litigation. After filing its initial complaint, in June 1999 Milberg Weiss filed an amended complaint which alleges that Sabratek has committed financial fraud during the Class Period by, inter alia [Latin, Among other things.] A phrase used in Pleading to designate that a particular statute set out therein is only a part of the statute that is relevant to the facts of the lawsuit and not the entire statute. , improperly reporting artificially inflated revenue in violation of GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). and by failing to disclose other improprieties relating to its sales practices. The Court-appointed Lead Plaintiffs in this action anticipate filing a second amended complaint which will seek to recover damages for investors who purchased during an extended class period up to and including August 23, 1999. Milberg Weiss has been actively engaged in commercial litigation, emphasizing securities and anti-trust class actions, for more than 30 years. The firm has offices in New York, San Diego, San Francisco, Los Angeles, and Boca Raton and is active in major litigations pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts that have appointed the firm to major positions in complex multi-district or consolidated litigations. Milberg Weiss has taken a lead role in numerous important actions on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Steven G. Schulman or Michael A. Swick at Milberg Weiss at One Pennsylvania Plaza, 49th Floor, New York, New York 10119-0165, or by telephone 1-800-320-5081, or via e-mail: endfraud@mwbhl.com, or visit the firm's website at www.milberg.com. |
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