Kirby, McInerney & Squire LLP Commences Class Action Lawsuit Against Aurora Foods Inc.Business Editors/Legal Writers
NEW YORK--(BUSINESS WIRE)--Feb. 24, 2000
The following is an announcement by the law firm of Kirby, McInerney & Squire LLP LLP - Lower Layer Protocol :
Please take notice that 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 has been commenced on behalf of all purchasers of Aurora Foods Inc. (NYSE NYSE
See: New York Stock Exchange : AOR AOR
The ISO 4217 currency code for Angolan Reajustado Kwanza. ) securities between April 28, 1999 and February 17, 2000 (the "Class Period").
The action, filed in the United States District Court for the Northern District of California The United States District Court for the Northern District of California is the Federal district court whose jurisdiction comprises following counties: Alameda, Contra Costa, Del Norte, Humboldt, Lake, Marin, Mendocino, Monterey, Napa, San Benito, San Francisco, San Mateo, Santa , asserts claims against Aurora and certain of its officers for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by reason of material misrepresentations and omissions.
As the complaint alleges, Aurora announced positive and growing earnings for the first three quarters of 1999, and was expected to do so for the fourth quarter and full year as well. On February 18, 2000, however, the company stunned stun
tr.v. stunned, stun·ning, stuns
1. To daze or render senseless, by or as if by a blow.
2. To overwhelm or daze with a loud noise.
3. investors by announcing that four of its top executives had resigned, that the company was investigating accounting improprieties in its 1999 financial reporting, and that to correct these improprieties the company expected to take a charge against 1999 earnings that would result in a "material reduction of earnings for 1999 and possibly a small loss for the full year". The complaint alleges that investors, who bought the shares in the company believing it to be a profitable organization, and who were suddenly told that despite all of Aurora's previous public statements the company had little or even negative 1999 earnings, bought their shares at inflated prices and were damaged through no fault of their own.
The lawsuit seeks to recover losses suffered by investors who purchased Aurora Foods Inc. securities during the class period, excluding the defendants and their affiliates. Plaintiffs have retained as counsel the firm of Kirby, McInerney & Squire, LLP, which specializes in complex 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 securities class actions. Kirby, McInerney & Squire has repeatedly demonstrated its expertise in this field, and has been recognized by various courts which have appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling hundreds of millions of dollars, and its achievements and quality of service have been chronicled in published decisions. More information about Kirby McInerney & Squire can be obtained from the firm's website at www.kmslaw.com.
If you are a member of the class described above, you may, not later than sixty days from February 22, 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. If you wish to discuss this action, or have any questions concerning this notice or your rights, please contact:
Ira Press, Esq.
Robert Feinstein, Paralegal paralegal n. a non-lawyer who performs routine tasks requiring some knowledge of the law and procedures, employed by a law office or who works free-lance as an independent for various lawyers.
KIRBY McINERNEY & SQUIRE, LLP
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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 10022
Telephone: (212) 317-2300
or Toll Free (888) 529-4787