NEW YORK, June 19, 2002 (PRIMEZONE) -- Kaplan Fox (kaplanfox.com) has filed a class action against Dynegy, Inc. ("Dynegy" or the "Company") (NYSE:DYN) and certain of its officers and directors in the United States District Court for the Southern District of Texas. The suit is brought on behalf of all persons or entities who purchased or otherwise acquired the common stock of Dynegy between April 17, 2001 and April 25, 2002, inclusive (the "Class Period").
The complaint charges Dynegy and certain of its officers and directors with violations of the federal securities laws. The complaint alleges, among other things, that during the Class Period Defendants (a) made false and misleading public disclosures regarding its cash flows from operations; and (b) failed to disclose information material to investors, including the details of its "Project Alpha," a transaction involving two special purpose entities and a partnership Dynegy created for the purposes of increasing cash flow from operations and decreasing tax costs. As a result of Defendants' misleading statements and omissions during the Class Period, the price of Dynegy common stock traded at artificially inflated prices.
Plaintiff seeks to recover damages on behalf of the Class and is represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices in New York, San Francisco, Chicago and New Jersey, has many years of experience prosecuting investor class actions and actions involving financial fraud. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com
If you are a member of the Class, you may move the court no later than June 26, 2002 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you have any questions about this Notice, the action, your rights, or your interests, please e-mail us at mail@kaplanfox.com or contact:
Frederic S. Fox, Esq. Shelley Thompson, Esq. Kaplan Fox & Kilsheimer LLP 805 Third Avenue, 22nd Floor New York, NY 10022 (800) 290-1952 (212) 687-1980 Fax: (212) 687-7714 E-mail address: mail@kaplanfox.com Laurence D. King, Esq. Kaplan Fox & Kilsheimer LLP 601 Montgomery Street San Francisco, CA 94111 (415) 772-4700 Fax: (415) 772-4707 E-mail address: mail@kaplanfox.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca