Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit Against Societe Generale Group

  
    
  
  
    
      Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin 
      Stoia”) (http://www.csgrr.com/cases/socgen/) 
      today announced that a class action has been commenced on behalf of an 
      institutional investor in the United States District Court for the 
      Southern District of New York on behalf of all purchasers of the 
      American Depositary Receipts (“ADRs”) 
      and all U.S. residents and citizens who purchased the stock of Société 
      Générale Group (“SocGen”) 
      (OTC:SCGLY) (EPA:GLE) during the period between August 1, 2005 and 
      January 23, 2008 (the “Class Period”).
    
    
      If you wish to serve as lead plaintiff, you must move the Court no later 
      than 60 days from March 12, 2008. If you wish to discuss this action or 
      have any questions concerning this notice or your rights or interests, 
      please contact plaintiff’s counsel, Darren 
      Robbins of Coughlin Stoia 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.csgrr.com/cases/socgen/. 
      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 SocGen and certain of its officers and directors 
      with violations of the Securities Exchange Act of 1934. SocGen is one of 
      the largest French banking groups, operating in network banking, retail 
      banking, finance and investment banking and asset management services 
      worldwide.
    
    
      The complaint alleges that during the Class Period, defendants made 
      gross misrepresentations about the value of SocGen’s 
      securities and the quality of its internal controls and risk management. 
      Defendants’ misrepresentations began to be 
      disclosed on January 24, 2008, when SocGen issued a public statement 
      claiming that a trader named Jerôme Kerviel (“Kerviel”) 
      had single-handedly risked tens of billions of euros on behalf of the 
      Company, causing a loss of almost $7.5 billion, and that the Company’s 
      publicly reported financial results failed to disclose billions in 
      losses related to subprime real estate in the U.S. SocGen’s 
      stock price dropped over $3.00 per share in one day when SocGen’s 
      trading and subprime losses were disclosed on January 24, 2008. 
      Thereafter, it came to light that Robert A. Day, a SocGen board member 
      and founder of Trust Company of the West, in which SocGen owns a major 
      stake, had secretly disposed of $206 million of SocGen stock owned 
      and/or controlled by him before SocGen’s 
      balance sheet manipulations were publicly revealed and long after SocGen’s 
      executives were advised of the Kerviel trades and perjuries.
    
    
      Plaintiff seeks to recover damages on behalf of all purchasers of the 
      ADRs and all U.S. residents and citizens who purchased the stock of 
      SocGen during the Class Period (the “Class”). 
      The plaintiff is represented by Coughlin Stoia, which has expertise in 
      prosecuting investor class actions and extensive experience in actions 
      involving financial fraud.
    
    
      Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San 
      Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., 
      Philadelphia and Atlanta, 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. 
      The Coughlin Stoia Web site (http://www.csgrr.com) 
      has more information about the firm.