Milberg Weiss Announces Class Action Against Delta Financial Corporation.NEW YORK--(BUSINESS WIRE)--Nov. 1, 1999-- The Following is an Announcement by the Law Firm of Milberg Weiss Bershad Hynes & Lerach LLP LLP - Lower Layer Protocol : Notice is hereby given 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 was filed on Oct. 29, 1999, in the United States District Court for the Eastern District of New York EDNY redirects here, for other uses see EDNY (disambiguation). The United States District Court for the Eastern District of New York is the federal district court whose jurisdiction comprises the entirety of Long Island (including the portion in New York City) and Staten , on behalf of all persons who purchased the common stock of Delta Financial Corporation. ("Delta Financial" or the "Company")(NYSE NYSE See: New York Stock Exchange :DFC DFC - A dataflow language. ["Data Flow Language DFC: Design and Implementation", S. Toshio et al, Systems and Computers in Japan, 20(6):1- 10 (Jun 1989)]. ) between Oct. 31, 1996, and Aug. 18, 1999, inclusive (the "Class Period"), including all persons who purchased the common stock of Delta Financial pursuant or traceable to the Company's initial public offering ("IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ") on Oct. 31, 1996, or subsequently in the open market. 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, at Milberg Weiss Bershad Hynes & Lerach ("Milberg Weiss"), Steven G. Schulman or Samuel H. Rudman at One Pennsylvania Plaza, 49th Floor, 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 10119-0165, by telephone 1-800-320-5081 or via e-mail: endfraud@mwbhlny.com or visit our website at www.milberg.com. The complaint charges each of the defendants, including the principal underwriters of Delta's IPO, Natwest Securities Limited, Prudential Securities Incorporated and U.S. Bancorp Piper Jaffray, Inc., with violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933. Additionally, the complaint charges Delta Financial and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated prom·ul·gate tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates 1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce. 2. thereunder. In particular, the complaint alleges that the Registration Statement and Prospectus issued in connection with the Company's IPO contained false and misleading statements concerning the Company's questionable and improper sales practices, allowing the Company to raise over $75,000,000 in proceeds from the IPO. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firms of Milberg Weiss, Strauss & Troy and Bernstein Liebhard & Lifshitz. Milberg Weiss maintains offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , San Diego, Los Angeles, San Francisco and Boca Raton and is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in numerous important actions on behalf of defrauded investors, and is responsible for a number of outstanding recoveries which, in the aggregate total approximately $2 billion. For more information about Milberg Weiss, please visit our website at http://www.milberg.com. If you are a member of the class described above you may, not later than sixty days from Nov. 1, 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. |
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