NEW YORK, April 16, 2002 (PRIMEZONE) -- Kaplan Fox (kaplanfox.com) has filed a class action against Medi-Hut Co., Inc. ("Medi-Hut" or the "Company") (Nasdaq:MHUT) and certain of its officers and directors in the United States District Court for the District of New Jersey. The suit is brought on behalf of all persons or entities who purchased the common stock of Medi-Hut between April 4, 2000 and February 4, 2002, inclusive (the "Class Period").
The complaint charges Medi-Hut 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 issued false and misleading statements concerning the Company's publicly reported revenues. Furthermore, the Company substantially overstated its revenue and earnings results through accounting practices which violate Generally Accepted Accounting Principles. As a result of defendants' misleading statements and accounting improprieties during the Class Period, the price of Medi-Hut 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. The 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 the Website at www.kaplanfox.com
If you are a member of the Class, you may move the court no later than April 29, 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. Jonathan K. Levine, Esq. Adam M. Walsh, 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 William J. Pinilis, Esq. Kaplan Fox & Kilsheimer LLP 237 South Street Morristown, NJ 07962 (973) 656-0222 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