Milberg Weiss Bershad Hynes & Lerach LLP, Strauss & Troy, and Steven E. Cauley, P.A. announce filing of class action against CompuServe Corporation.NEW YORK--(BUSINESS WIRE)--July 22, 1996--On July 22, 1996, a class action was filed in the U.S. District Court for the Southern District of Ohio The District of Ohio was a federal judicial district of the United States created by the Federal Judiciary Act of 1801 which consisted of the Northwest and Indiana Territories. (Case No. C-2-96-717) on behalf of persons who, prior to July 16, 1996, purchased the common stock of CompuServe Corporation (company) CompuServe Corporation - The parent organisation of CompuServe Information Service, CompuServe Network Services and CompuServe Remote Computing Services. CompuServe was owned by H.R. Block but is now (1999) owned by America On-Line. http://compuserve.com/. ("CompuServe" or the "Company") pursuant to, or traceable to, the Company's initial public offering of approximately 18.4 million shares, which was consummated on April 18, 1996. The complaint charges CompuServe, certain of its officers and directors, and it parent corporations (H&R Block, Inc. and H&R Block Group, Inc.) with violations of the federal securities laws (Sections 11, 12(a) (2), and 15 of the Securities Act of 1933), among other things, by failing to advise purchasers of CompuServe common stock in (or traceable to) the initial public offering in April 1996 that the Company was experiencing serious adverse trends that affected the rate of growth of its subscriber base and jeopardized its profitability. On July 16, 1996, CompuServe projected a loss from operations of as much as 20 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for its first fiscal quarter as a public company due, at least in part, to flat subscriber growth. CompuServe shares currently trade for substantially less than half of the $30 price at which they were sold in the initial public offering. Plaintiff seeks rescission The abrogation of a contract, effective from its inception, thereby restoring the parties to the positions they would have occupied if no contract had ever been formed. By Agreement and damages on behalf of persons who purchased CompuServe common stock on, or traceable to, the initial public offering in April 1996. Plaintiff is represented by several law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
Milberg Weiss has been actively engaged in commercial 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. , emphasizing securities, consumer and antitrust class actions, for more than 25 years. The firm 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 and San Francisco and is active in major litigations pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to major positions in complex multi-district and consolidated litigations. Milberg Weiss has taken a leading role in numerous important actions on behalf defrauded investors, and is responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion. Strauss & Troy has also been actively engaged in securities, antitrust, products liability and other consumer class actions for more than 25 years. The firm maintains offices in Ohio and Northern Kentucky and is active in complex class action and multi-district litigations pending in federal and state courts throughout the United States. The firm has taken a leading role in the prosecution of a number of complex securities class actions which have resulted in significant recoveries for defrauded shareholders. The firm's excellence has been recognized on repeated occasions by courts throughout the United States. If you are a member of the class described above, you may, not later than 60 days from today, move the Court to serve as lead plaintiff, 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 with respect to these matters, please contact Milberg Weiss Bershad Hynes & Lerach LLP, One Penn Plaza One Penn Plaza is a skyscraper near Pennsylvania Station in New York City, west of Seventh Avenue, between 33rd and 34th Streets. It was designed by Kahn & Jacobs and completed in 1972. It reaches 229 meters (750 feet) with 57 floors. , 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, 1/800-390-7969 or via Internet electronic mail at PREZEKXJ@COUNSEL.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. ., or Richard S. Wayne at Strauss & Troy, 21 PNC Center, 201 E. Fifth Street, Cincinnati, Ohio 45202, (513) 621-2120 or via Internet electronic mail at S&T@AOL.COM. CONTACT: Milberg Weiss Bershad Hynes & Lerach LLP 800/390-7969 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion