Faruqi & Faruqi, LLP Announces Class Action Against CareMatrix Corp.NEW YORK--(BUSINESS WIRE)--Nov. 5, 1999-- The following is an announcement by the law firm of Faruqi & Faruqi, LLP LLP - Lower Layer Protocol : YOU ARE HEREBY NOTIFIED that a Class Action has been commenced in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for District of Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. , on behalf of all purchasers of CareMatrix Corp. (NASDAQ NASDAQin 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 :CMDC CMDC Cranfield Management Development Centre (UK) CMDC Canadian Media Directors' Council CMDC Centrum voor Maatschappelijke Documentatie en Coördinatie CMDC Capital Market Development Council CMDC Center for the Moral Defense of Capitalism ) ("CareMatrix" or the "Company") between October October: see month. 28, 1998, and October 7, 1999, inclusive (the "Class Period"). The Complaint charges CareMatrix and certain officers and directors of the Company during the relevant time period with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that defendants issued a series of materially false and misleading statements concerning the Company's business, products, operations and finances. Because of the issuance of a series of false and misleading statements, the price of CareMatrix common stock was artificially inflated during the Class Period. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Faruqi & Faruqi, LLP, which has extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. If you purchased CareMatrix common stock during the Class Period, you may, not later than 60 days from November 3, 1999, 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. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact: |
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