NEW YORK, Jan. 7, 2003 (PRIMEZONE) -- Bull & Lifshitz, LLP announced the following:
Notice is hereby given that a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against 800America.com, Inc. ("800America") (Other OTC:ACCO) and two of its former controlling members of 800America on behalf of all purchasers of the securities of 800America.com, Inc. from February 20, 2001 to November 13, 2002, inclusive (the "Class Period").
If you purchased 800America securities during the Class Period, then you may, no later than February 7, 2003, move the court to serve as a lead plaintiff, provided you meet certain legal requirements.
The complaint charges 800America and two of its former controlling members with issuing false and misleading statements regarding its revenue, expenses and profits, press releases and SEC filings. In such a manner, 800America artificially inflated its revenue, growth, expenses and profits, in violation of Generally Accepted Accounting Principles ("GAAP").
800America's press releases and SEC filings were also false and misleading because they failed to divulge the 800America's two former controlling member's criminal background.
Moreover, two of 800America's former controlling members profited substantially from insider trading and selling unauthorized private placements.
On November 13, 2002, the Securities and Exchange Commission ("SEC") filed an enforcement action against 800America and its two former controlling members for securities fraud and halted trading of 800America's securities entirely. 800America was, thereafter, appointed a receiver to preserve what is left of the Company.
Plaintiff seeks to recover damages on behalf of all purchasers or acquirers of 800America securities during the Class Period. Plaintiff is represented in this class action by the New York law firm of Bull & Lifshitz, LLP. Bull & Lifshitz, LLP has extensive experience in litigating investor class actions. For more information regarding Bull & Lifshitz, LLP, please view the website at www.nyclasslaw.com.
For an information package or if you wish to discuss this action, or have any questions concerning this notice of your rights or interests with respect to this matter, please contact Bull & Lifshitz, LLP via telephone at (212) 213-6222, via fax at (212) 213-9405 or by email at counsel@nyclasslaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca