WASHINGTON, Oct. 21 2002 (PRIMEZONE) -- The Law Office of Mark McNair announced a securities class action lawsuit has been filed against Sears, Roebuck & Co. (NYSE:S). The complaint is on behalf of, and seeks damages for shareholders who purchased the stock between January 17, 2002 and October 17, 2002.
The case is pending in the United States District Court for the Northern District of Illinois.
The case 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 had the effect of artificially inflating the market price of the Company's securities.
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 December 17, 2002 to serve as lead plaintiff for the Class. In order to serve as 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 were a purchaser of Sears during the period indicated and want to discuss your legal rights, you may e-mail or call the Law Office of Mark McNair who will, without obligation or cost to you, attempt to answer your questions. You may contact the Law Office of Mark McNair at 1101 30th Street PN.W. Suite 500, Washington, D.C, 20007, by telephone at (877) 511.4717 or (202) 872.4717, via e-mail at mcnair@justice4investors.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.