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VALUE MERCHANTS SERVED WITH CLASS ACTION COMPLAINT

 VALUE MERCHANTS SERVED WITH CLASS ACTION COMPLAINT
 MILWAUKEE, May 12 /PRNewswire/ -- Late this afternoon, Value


Merchants, Inc. (NYSE: VMI), its President Steven J. Appel and its Vice President-Finance Ronald E. Skelton, were served with a class action complaint alleging violations of the federal securities laws. An individual and an unnamed class of plaintiffs assert that damages were suffered as a result of the recent decline in the market value of the company's stock. The company has not had an opportunity to adequately evaluate the claims made in the complaint, however, it believes that all securities laws have been complied with and that the lawsuit is without merit. The lawsuit will be vigorously defended.
 -0- 5/12/92
 /CONTACT: Gary I. Kastel, director of communications of Value Merchants, 414-274-2976/
 (VMI) CO: Value Merchants, Inc. ST: Wisconsin IN: REA SU:


KD -- NY123 -- 9435 05/12/92 21:46 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 12, 1992
Words:147
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