Lerach Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit against American Italian Pasta Company

Lerach Coughlin Stoia Geller Rudman & Robbins LLP
("Lerach Coughlin") (http://www.lerachlaw.com/cases/aipc/) today
announced that a class action has been commenced in the United States
District Court for the Western District of Missouri on behalf of
purchasers of American Italian Pasta Company ("AIPC") (NYSE:PLB)
common stock during the period between October 4, 2000 and August 9,
2005 (the "Class Period").
   If you wish to serve as lead plaintiff, you must move the Court no
later than 60 days from August 12, 2005. If you wish to discuss this
action or have any questions concerning this notice or your rights or
interests, please contact plaintiff's counsel, William Lerach or
Darren Robbins of Lerach Coughlin at 800/449-4900 or 619/231-1058, or
via e-mail at [e-mail]. If you are a member of this class,
you can view a copy of the complaint as filed or join this class
action online at http://www.lerachlaw.com/cases/aipc/. Any member of
the purported class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member.
   The complaint charges AIPC and certain of its officers and
directors with violations of the Securities Exchange Act of 1934. AIPC
engages in the production and marketing of dry pasta in North America.
   The complaint alleges that during the Class Period, defendants
caused AIPC's shares to trade at artificially inflated levels by
issuing a series of materially false and misleading statements
regarding the Company's financial statements, business and prospects.
This caused the Company's stock to trade as high as $51.78 per share
during the Class Period and allowed defendants to sell 551,888 shares
of their AIPC stock at artificially inflated prices for proceeds of
$19.4 million.
   Then, on August 9, 2005, the Company issued a press release
announcing that it was "delaying the release of its full financial
results for the third fiscal quarter ended July 1, 2005, and is also
delaying the filing of its third quarter Form 10-Q with the Securities
and Exchange Commission (SEC). The Company stated that its Audit
Committee is conducting an internal investigation of certain
accounting procedures and practices and certain other matters. The
Company also outlined impairment charges and other financial statement
adjustments that will be recorded and provided an overview of its
business results for the third quarter." On this news, AIPC's stock
collapsed to as low as $13.10 per share before closing at $13.28 per
share on volume of 4.7 million shares.
   According to the complaint, the true facts, which were known by
each of the defendants but concealed from the investing public during
the Class Period, were as follows: (a) the Company lacked requisite
internal controls, and, as a result, the Company's projections and
reported results were based upon defective assumptions and/or
manipulated facts; (b) contrary to defendants' claims of fiscal 2005
profitability, the Company was actually on track to report losses; (c)
the Company lacked the necessary personnel to issue accurate financial
reports and projections; (d) the Company's financial statements were
presented in violation of Generally Accepted Accounting Principles;
and (e) as a result of the above, the Company's projections for fiscal
year 2005 were grossly inflated.
   Plaintiff seeks to recover damages on behalf of all purchasers of
AIPC common stock during the Class Period (the "Class"). The plaintiff
is represented by Lerach Coughlin, which has expertise in prosecuting
investor class actions and extensive experience in actions involving
financial fraud.
   Lerach Coughlin, a 150-lawyer firm with offices in San Diego, San
Francisco, Los Angeles, New York, Boca Raton, Washington, D.C.,
Houston, Philadelphia and Seattle, is active in major litigations
pending in federal and state courts throughout the United States and
has taken a leading role in many important actions on behalf of
defrauded investors, consumers, and companies, as well as victims of
human rights violations. Lerach Coughlin lawyers have been responsible
for more than $20 billion in aggregate recoveries. The Lerach Coughlin
Web site (http://www.lerachlaw.com) has more information about the
firm.