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Schatz & Nobel, P.C. Announces Class Action Lawsuit Against
Anchor Glass Container Corporation
HARTFORD, Conn., Dec. 14 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C.,
which has significant experience representing investors in prosecuting claims
of securities fraud, announces that a lawsuit seeking class action status has
been filed in the United States District Court for the Middle District of
Florida on behalf of all persons who purchased the publicly traded securities
of Anchor Glass Container Corporation (NasdaqNM: AGCC) ("Anchor Glass
Container") between September 25, 2003 and November 4, 2004 (the "Class
Period"), including anybody who acquired shares in the September 25, 2003
Initial Public Offering ("IPO").
The Complaint alleges that Anchor Glass Container violated federal securities
laws by issuing false or misleading public statements. Specifically, the
Complaint alleges that Anchor Glass Container's statements touting its
increasing sales and profitability were false or misleading because its
production far exceeded demand, the market was flooded with its inventory, and
one of its main production facilities, the Connellsville facility, was
materially impaired.
On November 5, 2004, Anchor Glass Container announced a greater than expected
loss, a company-wide revamping, the suspension of the quarterly dividend, and
the sudden resignation of CEO Richard Deneau. In response to this news, Anchor
Glass Container fell from a close of $7.94 per share on November 4, 2004, to
close at $5.80 per share on November 5, 2004.
If you are a member of the class, you may, no later than sixty days from the
first notice of suit, request that the Court appoint you as lead plaintiff of
the class. A lead plaintiff is a class member that acts on behalf of other
class members in directing the litigation. Although your ability to share in
any recovery is not affected by the decision whether or not to seek appointment
as a lead plaintiff, lead plaintiffs make important decisions which could
affect the overall recovery for class members, including decisions concerning
settlement. The securities laws require the Court to consider the class
member(s) with the largest financial interest as presumptively the most
adequate lead plaintiff(s).
For more information about the case, its claims, and your rights, please
contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at . To view
a copy of the lawsuit initiating the class action, or for more information
about class action cases and Schatz & Nobel, please visit our website:
http://www.snlaw.net/.
CONTACT:
Wayne T. Boulton
Tel.: (800) 797-5499
Website: http://www.snlaw.net/
e-mail:
DATASOURCE: Schatz & Nobel, P.C.
CONTACT: Wayne T. Boulton of Schatz & Nobel, +1-800-797-5499,
Web site: http://www.snlaw.net/