BALA CYNWYD, Pa., Aug. 16, 2002 (PRIMEZONE) -- A pending class action charges El Paso Corporation ("El Paso") (NYSE:EP) with misleading investors about its business and financial condition according to the law firm of Schiffrin & Barroway, LLP.
The complaint was filed in the U.S. District Court for the Southern District of Texas (02-CV-2910). Plaintiff seeks damages for violations of the federal securities laws on behalf of all investors who purchased El Paso Corporation securities between July 25, 2001 and May 29, 2002 (the "Class Period").
Schiffrin & Barroway, LLP has prosecuted shareholder class actions for over fourteen years and has recovered more than $1 billion for investors. If you are a shareholder of El Paso Corporation and want to learn more about this lawsuit and about becoming a lead plaintiff, you may visit our website at http://www.sbclasslaw.com/cgi/signup.cgi.
The complaint alleges that El Paso Corporation material omissions and the dissemination of materially false and misleading statements regarding the nature of El Paso's trading practices and revenues caused El Paso's stock price to become artificially inflated, inflicting damages on investors.
If you purchased El Paso Corporation securities between July 25, 2001 and May 29, 2002, you may be a member of the class and have until September 16, 2002 to move the court to become a lead plaintiff. In order to serve as lead plaintiff, however, you must meet certain legal requirements. To be a member of the class, however, you do not need to take any action at this time. Should you decide to seek appointment as a lead plaintiff, you may retain Schiffrin & Barroway, or retain counsel of your choice.
To learn more about your rights and interests in this case and your ability to potentially recoup your losses, please contact Schiffrin & Barroway (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) directly at 888-299-7706 (toll free) or 610-822-2221, fax number 610-822-0002, e-mail at info@sbclasslaw.com or visit our website at www.sbclasslaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.