LITTLE ROCK, Ark., May 23, 2001 (PRIMEZONE) -- The Law Firm of Cauley Geller Bowman & Coates, LLP announced today that it has filed a class action lawsuit in the United States District Court for the Middle District of Tennessee on behalf of purchasers of Dollar General Corp. ("Dollar General" or the "Company") (NYSE:DG) common stock during the period between May 12, 1998 and April 27, 2001 (the "Class Period"), and suffered damages thereby. A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's Website at http://www.classlawyer.com/class_actions.html.
The complaint charges Dollar General and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Company offers a focused assortment of consumable basic merchandise, including health and beauty aids, packaged food products, cleaning supplies, housewares, stationery, seasonal goods, basic apparel and domestics.
On April 30, 2001, the Company issued a press release entitled, "Dollar General Expects to Restate Earnings; Maintains Current Year Guidance." The press release stated in part, "Dollar General Corporation announced today that it expects to delay the filing of its annual report on Form 10-K for the fiscal year 2000 in anticipation of restating its audited financial statements for fiscal years 1998 and 1999 as well as restating the unaudited financial information for the fiscal year 2000 as previously released. The Company has become aware of certain accounting irregularities, and the audit committee of the Company's board of directors is conducting an investigation of these irregularities." On this news, trading in Dollar General shares plunged to $16.50, or more than 37% lower than the Class Period high of $26.
If you bought the common stock of Dollar General between May 12, 1998 and April 27, 2001, you may, no later than June 29, 2001, request that the Court appoint you as lead plaintiff. 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 Cauley Geller Bowman & Coates, LLP, or other counsel of your choice, to serve as your counsel in this action. If you are a member of this class, you can join this class action online at http://www.classlawyer.com/sign_up.html.
Cauley Geller Bowman & Coates, LLP has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Florida, Arkansas and California, but represents shareholders from throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm or visit the Firm's Website at www.classlawyer.com.
CAULEY GELLER BOWMAN & COATES, LLP
Client Relations Department:
Sue Null, Charlie Gastineau or Jackie Addison
P.O. Box 25438
Little Rock, AR 72221-5438
Toll Free: 1-888-551-9944
E-mail: info@classlawyer.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca