NEW YORK, Nov. 24, 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 Northern District of Illinois against Sears Roebuck & Co.
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 the Company and by failing to disclose material information about the Company's plan to merge with Kmart and that when the market learned the truth, the price of Sears securities increased substantially.
The suit is on behalf of persons who sold shares of Sears securities ("Sears" or the "Company") (NYSE:S) during the period from November 8, 2004 through November 16, 2004 (the "Class Period").
Plaintiff seeks to recover damages on behalf of himself and all sellers of Sears 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 January 23, 2005, 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: