CENTEX ANNOUNCES SECURITIES SUIT
CENTEX ANNOUNCES SECURITIES SUIT SAN FRANCISCO, May 29 /PRNewswire/ -- Centex Telemanagement Inc.
(NASDAQ: CNTX) announced today that a lawsuit has been filed against it alleging securities law violations in connection with certain public statements made by the company in the period between Oct. 31, 1991 and May 1, 1992.
The lawsuit, which purports to be a class action brought on behalf of all purchasers of Centex stock during the period described above, was filed May 21, 1992 in the United States District Court in San Francisco. The lawsuit asserts that Centex and certain of its officers made misleading statements about the company's financial condition. The company strongly denies the allegations made against it, and intends to vigorously defend this lawsuit. Centex Telemanagement Inc. is a pioneer in providing comprehensive telecommunications management services to small and medium-sized businesses. Centex provides a single point of contact for smaller businesses, which face increasing complexity and confusion resulting from the expanding number of local and long distance telecommunications options. In exchange for a management fee, Centex provides a broad range of sophisticated management services, such as multivendor coordination and management, equipment analysis, call- routing optimization and accounting, and voice messaging. Centex analyzes the telecommunications needs of its clients and selects the best mix of services from various third-party providers to be shared by its clients under Centex management. Centex clients receive these high-quality telecommunications services at significant labor and cost savings. Centex currently serves more than 9,100 clients through 19 branch offices in eight states. -0- 5/29/92 /CONTACT: Peter A. Howley or John H. Barnet of Centex Telemanagement, 415-882-2300/ (CNTX) CO: Centex Telemanagement Inc. ST: California IN: TLS SU:
MM -- SF003 -- 5043 05/29/92 08:01 EDT
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|Date:||May 29, 1992|
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