NEW YORK, Feb. 7, 2007 (PRIME NEWSWIRE) -- The law firm Seeger Weiss LLP announces that it filed a class action lawsuit today in the United States District Court for the District of New Jersey on behalf of all sellers of common stock of Fairfax Financial Holdings Limited (NYSE:FFH) over the New York Stock Exchange ("NYSE") between December 18, 2002 and July 25, 2006 (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint filed states that the case "arises from a massive, illegal stock market manipulation scheme that has targeted and severely harmed ... shareholders of Fairfax, and has resulted in immense ill-gotten profits for defendants S.A.C. Capital, Exis Capital, Third Point, Rocker Partners and other extremely powerful hedge funds." The Complaint further alleges that Defendants "launched a manipulation scheme ... which was an abusive short selling strategy coupled with a public relations campaign chock full of false and misleading statements about Fairfax, its executives, its business, and its common stock price designed to drive down (Fairfax's) stock price."
Seeger Weiss LLP is a New York-based firm that is active in major complex litigations and class actions pending in federal and state courts throughout the United States. Seeger Weiss has taken a leading role in many important actions on behalf of defrauded investors, consumers and others and has recovered millions of dollars for clients and class members.
If you are a member of the class described above, you may, not later than 60 days from today move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Seeger Weiss LLP, or other counsel of your choice, to serve as your counsel in this action.
If you wish to discuss this action with us, or have any questions concerning this notice or your rights and interests with regard to the case, please contact us:
CONTACT: Christopher A. Seeger, Esq.
Eric T. Chaffin, Esq.
Roopal P. Luhana
Seeger Weiss LLP
One William Street
New York, New York 10004
E-Mail: cseeger@seegerweiss.com
echaffin@seegerweiss.com
rluhana@seegerweiss.com
Tel.: (212) 584-0700
Toll Free: (877) 541-3273
www.seegerweiss.com
www.lawyerseek.com
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca