Cumulus Media Class Period for Securities Fraud Lawsuit has Been Extended According to Schiffrin & Barroway.Business Editors/Legal Writers BALA CYNWYD, Pa.--(BUSINESS WIRE)--May 3, 2000 The following statement was issued today by the law firm of Schiffrin & Barroway, LLP LLP - Lower Layer Protocol : Earlier this year, investors represented by Schiffrin & Barroway, LLP, 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 in the United States District Court for the Eastern District of Wisconsin The U.S. District Court for the Eastern District of Wisconsin serves the residents of twenty-eight counties from its two courthouses. The counties are: Brown, Calumet, Dodge, Door, Florence, Fond du Lac, Forest, Green Lake, Kenosha, Kewaunee, Langlade, Manitowoc, Marinette, on behalf of all purchasers of the common stock of Cumulus Media Cumulus Media, Inc. (also known as Cumulus Broadcasting) NASDAQ: CMLS is a large owner of radio stations in markets in the United States with 307 stations in 61 markets as of December 31, 2005. , Inc. (Nasdaq: CMLS CMLS Central Minnesota Legal Services CMLS Chemical Movement in Layered Soils CMLS Centralized Mail List Services (GSA) CMLS Contractor Maintenance & Logistics Support ) from May 11, 1999 through March 16, 2000, inclusive (the "Class Period"). In light of recent disclosures made by the Company regarding the resignation of its auditors, the Schiffrin & Barroway Class Period has been extended to include all purchasers of Cumulus Media common stock from May 11, 1999 to April 24, 2000. 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 Schiffrin & Barroway, LLP (Marc A. Topaz topaz (tō`păz), aluminum silicate mineral with either hydroxyl radicals or fluorine, Al2SiO4(F,OH)2, used as a gem. , Esq. or Robert B. Weiser, Esq.) toll free at 888/299-7706 or 610/667-7706, or via e-mail at info@sbclasslaw.com. The complaint charges Cumulus Media and certain of its officers and directors with issuing false and misleading financial results throughout the Class Period. Specifically, defendants overstated o·ver·state tr.v. o·ver·stat·ed, o·ver·stat·ing, o·ver·states To state in exaggerated terms. See Synonyms at exaggerate. o revenues, earnings, and Broadcast Cash Flow for each of the first three quarters in 1999. These false financial results were also contained in the offering documents of two secondary offerings which Cumulus Media used to raise $370 million.. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, LLP, who has significant experience and expertise prosecuting class actions on behalf of investors and shareholders. For more information on Schiffrin & Barroway, please visit our website at www.sbclasslaw.com. If you are a member of the class described above, you may, not later than May 16, 2000, 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. |
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