USA: Warnaco Class Action Lawyers Call For Lead Plaintiff
The law firm, Laurence D. Paskowitz, announced today that Warnaco shareholders have only 10 days to meet the class action deadline. The class action suit, which was filed on August 22, 2000 in the US District Court for the Southern District of New York, is on behalf of all persons and organisation who purchased Warnaco Group (NYSE:WAC) common stock between December 11, 1997 and July 20, 2000 (the "Class Period"). The lawsuit alleges that during the class period, Warnaco and two of its top officers and directors issued materially false and misleading statements regarding Warnaco's earnings, prospects, and business practices. In particular, the suit alleges that Warnaco inflated sales through knowing violations of a jeanswear distribution license obtained from Calvin Klein, Inc and the Calvin Klein Trademark Trust ("Klein"). On May 30, 2000, Klein sued Warnaco over these alleged violations. The suit also asserts that Warnaco stock was inflated during the class period by misleading earnings forecasts, and that all of the alleged misconduct was motivated by the defendants' interest in profiting from salary, bonuses and stock sales. Plaintiff seeks to recover damages on behalf of the class and is represented by Laurence D. Paskowitz and Roy Jacobs, attorneys with many years of experience in prosecuting investor class actions. If you are bought within the relevant time period, you may move the court, no later than October 23, 2000 to serve as lead plaintiff for the class. In order to serve as lead plaintiff, you must meet certain legal requirements. Please contact the undersigned if you have any questions about this Notice, the action, or your rights. You may also learn more about class actions in general by visiting
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