Notice of Filing Securities Class Action Against Friedman's, Inc.

Notice of Filing Securities Class Action Against Friedman's, Inc. 


NEW YORK, Nov. 17  /PRNewswire/ -- Wolf Popper LLP has filed a securities class
action in the United States District Court for the Northern District of Georgia,
styled Miller v. Friedman's et al., against Friedman's, Inc.  and certain of its
officers.  The lawsuit was filed on behalf of all persons and entities who
purchased the securities of Friedman's from January 24, 2001 to November 11,
2003 (the "Class" and the "Class Period," respectively).

Friedman's, one of the largest jewelry retailers in the United States with over
700 stores, primarily in strip malls, has consistently attributed over 50% of
its annual sales to retail customers who finance their purchases through the
Company's proprietary credit program, a program which offers easy payment terms
and instant credit approval to predominantly high credit risk customers.  The
Complaint charges that defendants violated the federal securities laws by
issuing materially false and misleading statements throughout the Class Period
concerning the Company's revenue and income. Specifically, defendants violated
generally accepted accounting principles and the Company's stated guidelines by
improperly understating the Company's allowance for doubtful accounts with
respect to its credit program receivables and by failing to properly and timely
write off uncollectible credit account receivables, which had the effect of
materially overstating the Company's revenues and income.

On November 11, 2003, weeks after the Company sold 3.1 millions shares of its
common stock to the unsuspecting public at $15.00 per share, Friedman's shocked
investors when it announced that as a result of Department of Justice and SEC
investigations, it placed its Chief Financial Officer on an extended leave of
absence, that its allowance for doubtful accounts was materially understated,
and further, suggested that its previously reported financial statements dating
back to January 1, 2000 may have to be restated.  In immediate response to the
foregoing disclosure, the Company's common stock plummeted 39% to $7.31 per
share.

Class members who desire to be appointed lead plaintiff in this action must file
a motion with the court no later than January 13, 2004.  If you purchased the
securities of Friedman's during the Class Period and would like to discuss this
lawsuit, you may contact:

   Michael A. Schwartz, Esq.
   Mark Marino, Esq.
   Wolf Popper LLP
   845 Third Avenue
   New York, NY  10022
   Telephone:  [phone] or toll free 877.370.7704
   E-mail:  
   Website: http://www.wolfpopper.com/

DATASOURCE: Wolf Popper LLP



CONTACT:  Michael A. Schwartz, Esq., or Mark Marino, Esq., both of Wolf

Popper LLP, [phone], or toll free - 1-877-370-7704,





Web site:  http://www.wolfpopper.com/ 

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