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Wolf Haldenstein Adler Freeman and Herz LLP Commences Class
Action Lawsuit on Behalf of Star Gas Partners, L.P. Shareholders
NEW YORK, Oct. 27 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP
filed a class action lawsuit in the United States District Court for the
District of Connecticut, on behalf of all persons who purchased the securities
of Star Gas Partners, L.P. ("Star Gas" or the "Company") (NYSE: SGU; SGH)
between July 25, 2000 and October 18, 2004, inclusive, (the "Class Period")
against defendants Star Gas and certain officers and directors of the Company.
The case name is Strunk v. Star Gas Partners, L.P., et al. A copy of the
complaint filed in this action is available from the Court, or can be viewed on
the Wolf Haldenstein Adler Freeman & Herz LLP website at
http://www.whafh.com/cases/stargas.htm.
The complaint alleges that defendants violated the federal securities laws by
issuing materially false and misleading statements throughout the Class Period
that had the effect of artificially inflating the market price of the Company's
securities.
The complaint further alleges that statements made by defendants during the
class period were materially false and misleading when made because they failed
to disclose and/or misrepresented the following adverse facts, among others:
(a) that the Company's attrition rates remained abnormally high throughout the
Class Period; (b) that the Company did not have the necessary infrastructure to
deal with the increased customers from its numerous acquisitions; (c) that the
Company was experiencing massive delays in the centralization of its dispatch
system which caused its customers to flee to competitors; (d) that the
Company's Petro heating oil division's business process improvement program was
not an improvement and was not generating the benefits claimed by defendants;
(e) that as a result of (a)(d), defendants were facing imminent bankruptcy
and would no longer be able to service the Company's debt, all of which would
halt the Company's ability to maintain the Company's credit rating and/or
obtain future financing.
If you purchased Star Gas securities during the Class Period, you may request
that the Court appoint you as lead plaintiff by December 20, 2004. 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, the
Court must determine that the class member's claim is typical of the claims of
other class members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may together
serve as "lead plaintiff." Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead plaintiff.
You may retain Wolf Haldenstein, or other counsel of your choice, to serve as
your counsel in this action.
Wolf Haldenstein has extensive experience in the prosecution of securities
class actions and derivative litigation in state and federal trial and
appellate courts across the country. The firm has approximately 60 attorneys
in various practice areas; and offices in Chicago, New York City, San Diego,
and West Palm Beach. The reputation and expertise of this firm in shareholder
and other class litigation has been repeatedly recognized by the courts, which
have appointed it to major positions in complex securities multi-district and
consolidated litigation.
If you wish to discuss this action or have any questions, please contact Wolf
Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York
10016, by telephone at (800) 575-0735 (Fred Taylor Isquith, Esq., Gustavo
Bruckner, Esq., George Peters, or Derek Behnke), via e-mail at or visit our
website at http://www.whafh.com/. All e-mail correspondence should make
reference to Star Gas.
DATASOURCE: Wolf Haldenstein Adler Freeman & Herz LLP
CONTACT: Fred Taylor Isquith, Esq., Gustavo Bruckner, Esq., George
Peters, or Derek Behnke, all of Wolf Haldenstein Adler Freeman & Herz LLP,
1-800-575-0735,
Web site: http://www.whafh.com/
http://www.whafh.com/cases/stargas.htm