ALCO INTERNATIONAL GROUP INC.
SAN DIEGO, April 21 /PRNewswire/ -- Alco International Group Inc. (NASDAQ: ALIG) (the "company") today announced that on April 19, 1993, a complaint was filed in the United States District Court for the Southern District of California against the company and certain directors, executive officers and one non-officer employee. The company believes the lawsuit to be without merit, and intends to vigorously oppose it. The complaint, filed in what purports to be a class action by a shareholder, alleges violations of the Securities Exchange Act of 1934, as amended, and certain regulations promulgated thereunder, negligent misrepresentation, fraud, deceit and aiding and abetting with respect to sales of the company's securities. The action seeks an unspecified amount of compensatory and punitive damages. The company was first made aware of the possibility of a lawsuit when the company's President and Chief Executive Officer, Dr. Dietmar P. Rabussay, received a telephone call from a local San Diego reporter seeking the company's response prior to the filing of the action. To date, none of the defendants have been served with a copy of the complaint. Alco International Group Inc., through its subsidiaries, operates two primary businesses: the marketing of medical products for infection control and women's health, fertility and conception products; and the transportation of containerized cargo from South Florida to the Caribbean. -0- 4/21/93 /CONTACT: Harmon Berns of Frankel & Associates, 708-475-4500, for Alco/ (ALIG)
CO: Alco International Group Inc. ST: California IN: MTC MAR SU:
EH-JB -- SD006 -- 8842 04/21/93 14:34 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 21, 1993|
|Previous Article:||RODALE PRESS FILES LEGAL SUIT AGAINST LOUIS HARRIS AND ASSOCIATES FOR COPYRIGHT VIOLATIONS, UNFAIR BUSINESS PRACTICES|
|Next Article:||CDMA CHOSEN AS CELLULAR STANDARD FOR KOREA; MINISTRY OF COMMUNICATIONS SELECTS CDMA; COMMERCIAL SERVICE TO BEGIN 1995|