BALTIMORE, Dec. 5, 2003 -- (PRIMEZONE) Law Offices Of Charles J. Piven, P.A. today announced that a securities class action has been commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Friedman's, Inc. (NYSE:FRM) between January 26, 2000 and November 11, 2003, inclusive (the "Class Period").
The case is pending in the United States District Court for the Northern District of Georgia against Friedman's, Victor M. Suglia, Bradley J. Stinn, Sterling B. Brinkley and Douglas Anderson.
The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements (regarding Friedman's financial results and business model) resulted in the Company materially overstating its earnings for the fiscal years 2000 through 2002, and the first three quarters of 2003, and which false and misleading statements had the effect of artificially inflating the market price of the Company's securities during the Class Period.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the Class, you may move the court no later than January 13, 2004 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice.
If you are one who acquired Friedman's, Inc. securities during the Class Period and want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Law Offices Of Charles J. Piven, P.A. has paid a fee to Primezone Media Network to issue this press release, and Law Offices Of Charles J. Piven, P.A. is not counsel in the case referenced in this release. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/986-0036.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.