Details About the Shareholder Lawsuit First-filed by Abbey, Gardy & Squitieri, LLP Against the Maxim Group Inc. -MXG- and Certain of Its Officers.NEW YORK--(BUSINESS WIRE)--June 3, 1999-- The following is an announcement by The Law Firm Of Abbey, Gardy & Squitieri, LLP LLP - Lower Layer Protocol : On May 20, 1999 Abbey, Gardy & Squitieri, LLP filed the first 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 Northern District of Georgia The U.S. District Court for the Northern District of Georgia serves the residents of forty-six counties. These are divided up into four districts. The Atlanta district includes: Cherokee, Clayton, Cobb, Internet Coffe Phone, Douglas, Fulton, Gwinnett, Henry, Newton, and , on behalf of all purchasers and acquirers of The Maxim Group Inc. (NYSE NYSE See: New York Stock Exchange :MXG MXG Maintenance Group MXG Marlborough, Massachusetts MXG Merrill's Expanded Guide (to Computer Performance Evaluation) ) common stock between August 31, 1998 and May 19, 1999 (the "Class Period"). The Complaint charges The Maxim Group, A.J. Nassar (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. ) and Gary Brugliera (Maxim's Chief Financial Officer and Executive Vice President) with violating Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 as well as SEC Rule 10b-5. Among other things, plaintiff claims that defendants issued a series of materially false and misleading statements regarding The Maxim Group's financial results for fiscal 1999 and for certain quarters ending January 31, 1999. On May 19, 1999, The Maxim Group announced that it would "record certain adjustments" to previously reported results due to its improper recognition of revenue in prior quarters. As a result of these adjustments, The Maxim Group is revising downward its reported results of operations for the second, third and fourth quarter of fiscal 1999 and for the fiscal year ended January 31, 1999. Plaintiff seeks to recover damages on behalf of himself, other purchasers of The Maxim Group common stock and other individuals who acquired Maxim stock, either through the sale of their businesses or otherwise, during the Class Period. Plaintiff is represented by Abbey, Gardy & Squitieri, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. Abbey, Gardy & Squitieri, LLP filed the first shareholder Class Action against Maxim and has received many inquiries about the case from shareholders. If you purchased or acquired Maxim stock between August 31, 1998 and May 19, 1999, you may, not later than 60 days from May 19, 1999, move the court to serve as a lead plaintiff of the class, if you so choose. In order to serve as a 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: Mark C. Gardy, Esq. Karin E. Fisch, Esq. James S. Notis, Esq. Abbey, Gardy & Squitieri, LLP 212 East 39th Street New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10016 TELEPHONE: (800) 889-3701 or (212) 889-3700 E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : kfisch@a-g-s.com |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion