NEW YORK, Aug. 3, 2004 (PRIMEZONE) -- The following statement was issued today by Squitieri & Fearon, LLP.
A class action has been filed in the United States District Court for the District of Connecticut against Durus Life Sciences Master Fund, Ltd; Durus Capital Management, LLC; Aksys, Ltd.; and Scott Sacane.
If you wish to discuss your rights, please contact Lee Squitieri of Squitieri & Fearon, LLP at (212) 421-6492 or by e-mail at lee@sfclasslaw.com.
The lawsuit charges that defendants violated the federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period about their ownership of Aksys securities and that when the market learned the truth, the price of Aksys securities increased substantially.
The suit is on behalf of persons who sold short shares of Aksys securities ("Aksys" or the "Company") (Nasdaq:AKSY) during the period from January 1, 2003 through July 24, 2003 (the "Class Period").
Plaintiff seeks to recover damages on behalf of himself and all short sellers of Aksys securities during the Class Period. Excluded from the Class are the defendants and members of their immediate families, any entity in which a defendant has a controlling interest and the heirs of any such excluded party.
If you are a member of the Class described above, you may, no later than October 3, 2004, move the Court to serve as lead plaintiff of the Class, if you so choose.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact: Squitieri & Fearon, LLP.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.