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Law Firm Kirby McInerney & Squire Announces Class Action Lawsuit Against Navigant Consulting, Inc.

NEW YORK--(BUSINESS WIRE)--Dec. 8, 1999--

The following is an announcement by the law firm of Kirby McInerney & Squire, LLP:

Please take notice that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of all purchasers of Navigant Consulting, Inc. (NYSE: NCI) common stock between May 6, 1999 and November 22, 1999 (the "Class Period"). The action asserts a claim against Navigant 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.

On November 22, 1999, the company announced: (i)that several senior officers and directors, including the CEO and Chairman, had been dismissed or had resigned; (ii) that these and other officers had managed during the third quarter of 1999 to obtain loans from the company totaling $17 million; and (iii) that the company*s method for accounting for business combinations was being examined by its auditor and might require significant restatement. As a result, Navigant*s stock price declined over 70% from its class period high.

The lawsuit seeks to recover losses suffered by investors who purchased Navigant common stock during the class period, excluding the defendants and their affiliates. Plaintiff is represented by the firm of Kirby McInerney & Squire, LLP, which specializes in complex litigation, including securities class actions. Kirby McInerney 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 November 23, 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, please contact:

Ira M. Press, Esq.

Robert Feinstein, Paralegal

KIRBY McINERNEY & SQUIRE, LLP

830 Third Avenue

10th Floor

New York, New York 10022

Telephone: (212) 317-2300

or Toll Free (888) 529-4787

E-Mail: kms@kmslaw.com
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Publication:Business Wire
Geographic Code:1USA
Date:Dec 8, 1999
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