DOYLESTOWN, Pa., May 21, 2003 (PRIMEZONE) -- Hoffman & Edelson, LLC today announced that it has filed a class action in the United States District Court for the Central District of California on behalf of purchasers of the securities of Blue Rhino Corporation ("Blue Rhino" or the "Company") (Nasdaq:RINO) during the period from August 15, 2002 through February 5, 2003, inclusive (the "Class Period"), and who suffered damages thereby.
The complaint alleges Blue Rhino and certain of its officers and directors violated the Securities Exchange Act of 1934. The complaint alleges that each of the defendants is liable as a participant in a fraudulent scheme and course of business that operated as a fraud or deceit on purchasers of Blue Rhino securities by disseminating materially false and misleading statements and/or concealing material adverse facts. The scheme: (i) deceived the investing public regarding Blue Rhino's business, operations, management and the intrinsic value of Blue Rhino common stock; (ii) enabled defendants to acquire over $30 million in assets, purchased using artificially inflated Blue Rhino shares, to refinance debt upon more favorable terms with its lenders; (iii) allowed defendants to sell $15.79 million worth of Company common stock in a private placement, as well as register over $23.8 million in shares of common stock for large shareholders that had entered into a private equity deal the prior year; and (iv) caused plaintiff and other members of the Class to purchase Blue Rhino securities at artificially inflated prices.
If you purchased the securities of Blue Rhino during the Class Period, you may, no later than July 18, 2003, 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, you must meet certain legal requirements. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as lead plaintiff. You may retain Hoffman & Edelson, LLC, or other counsel of your choice, to serve as your counsel in this action.
If you wish to discuss this action or have any questions concerning this notice or your rights with respect to this matter, please contact Jerold B. Hoffman at Hoffman & Edelson, LLC, 45 W. Court Street, Doylestown, PA 18901 at 877-537-6532 (toll free), fax number 215-230-8735 or by e-mail at jhoffman@hofedlaw.com.
Hoffman & Edelson, LLC is also investigating potential claims against the following companies for the following class periods:
Company Class Period Lead Plaintiff
Deadline
Electric September 17, 2002-April 15, 2003 May 27, 2003
Scientific
Industries, Inc.
(Nasdaq:ESIOE)
eUniverse Inc. July 30, 2002-May 5, 2003 July 11, 2003
(Nasdaq:EUNI)
If you purchased any of the above-referenced securities during the above-referenced class periods and would like more information about your legal rights, please contact Jerold B. Hoffman at Hoffman & Edelson, LLC, 45 W. Court Street, Doylestown, PA 18901 at 877-537-6532 (toll free), fax number 215-230-8735 or by e-mail at jhoffman@hofedlaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca