NEW YORK, March 12, 2001 (PRIMEZONE) -- Investors in TEAM Communications Group, Inc. (Nasdaq:TMTV) have retained Shalov Stone & Bonner to file a lawsuit after suffering devastating losses from the sudden and shocking disclosure last month that the Company's prior financial statements were misleading because they improperly recorded certain transactions that "lacked economic substance." The class action, expected to be filed later today, will include all investors who purchased TMTV securities at any time since November 19, 1999. The lawsuit will be filed in the United States District Court for the Central District of California.
Investors have retained Shalov Stone & Bonner, a law firm that has taken a leading role in many important actions on behalf of defrauded investors and consumers. The firm is frequently retained by investors to conduct investigations and initiate actions involving allegations of corporate fraud. The members of the firm possess significant experience and expertise conducting investigations and legal actions of this nature. The firm's experience and accomplishments are discussed on its website - www.lawssb.com
If you would like to participate in this action or would like additional information about the lawsuit, please contact: Shalov Stone & Bonner (Ralph M. Stone), 276 Fifth Avenue, Suite 704, New York, New York 10001, telephone: 212-686-8004, email: ralph@lawssb.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca