SAN DIEGO, May 21, 2004 (PRIMEZONE) -- Law Offices Of Anatoly Weiser today announced that a securities lawsuit has been commenced on behalf of shareholders who purchased the common stock of Lancer Corporation (AMEX:LAN) ("Lancer" or the "Company") between October 26, 2000 and February 4, 2004, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the Western District of Texas. The complaint alleges that defendants violated sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market during the Class Period that had the effect of artificially inflating the market price of the Company's securities.
If you purchased Lancer stock between October 26, 2000 and February 4, 2004, you may move the court no later than July 16, 2004 to serve as a lead plaintiff. The lead plaintiff acts as a representative party on behalf of other class members in directing the litigation. To be a member of the class, you need not take any action at this time. Your ability to share in any recovery is not affected by whether or not you serve as a lead plaintiff.
If you want to discuss your legal rights, you may call or e-mail the Law Offices of Anatoly Weiser who will attempt to answer your questions at no cost or obligation to you. You may contact the Law Offices Of Anatoly Weiser toll-free at (877) 736-5411, by fax at (858) 225-0838 or by email at info@classlawsuit.com.