BUSINESS WIRE - 44 Montgomery St, 39th Floor, San Francisco, CA 94104; Tel: (415) 986-4422; FAX: (415) 788-5335 - 19 December 1996.
The complaint charges Dignity and certain of its officers and directors with violations of the federal securities laws by issuing a series of false and misleading statements in connection with an initial public offering in which 2,702,500 shares of Dignity common stock were offered and sold to the investing public at a price of $12.00 per share in February 1996. The complaint alleges that the false and misleading statements contained in Dignity's Prospectus and Registration Statement and in other public documents and public statements issued, misled purchasers of Dignity's stock regarding the Company's revenues, earnings and financial condition. As detailed in the complaint, during the period from February 14, 1996 to July 16, 1996 (the "Class Period") defendants issued false financial statements by improperly recognizing revenue and overvaluing the Company's assets and net worth.
The complaint alleges that the Company also failed to disclose that the sales and growth forecasts contained in Dignity's Registration Statement and Prospectus and subsequent public filings and statements were made in bad faith and without a reasonable basis. The complaint further alleges that Defendants knew, or were reckless in not knowing, that these statements were overly optimistic, had no reasonable basis and were materially false and misleading.
Plaintiffs seek to recover damages on behalf of all purchasers of Dignity common stock during the Class Period (the "Class"). They are represented by several law firms, including Abbey & Ellis and Milberg Weiss Bershad Hynes & Lerach LLP who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
If you are a member of the Class described above, you may, no later than 60 days from today, 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. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs' counsel, Arthur N. Abbey or Stephen T. Rodd of Abbey & Ellis at 800/889-3701 or William Lerach or Patrick J. Coughlin of Milberg Weiss at 800/348-6192.
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CONTACT: Milberg Weiss William Lerach or Patrick J. Coughlin, 800/348-6192 or Abbey & Ellis Arthur N. Abbey or Stephen T. Rodd, 800/889-3701
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Copyright © 1996 - Business Wire. All rights reserved. Reproduced with permission. Reproduction of this article (other than one copy for personal reference) must be cleared through the Business Wire, Permissions Desk, Business Wire, 1185 Avenue of the Americas, 3rd Floor, New York, NY 10036; Tel: (212) 575-8822; FAX: (212) 575-1854. http://www.businesswire.com.
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