Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Against El Paso Corporation -- EP


PHILADELPHIA, Aug. 23, 2002 (PRIMEZONE) -- The law firm of Spector, Roseman & Kodroff, P.C. announces that it filed a class action lawsuit in the United States District Court for the Southern District of Texas against defendant El Paso Corporation ("El Paso" or the "Company") (NYSE:EP), on behalf of purchasers of the stock of El Paso during the period from July 25, 2001 and May 29, 2002, inclusive (the "Class Period").

The complaint charges El Paso and certain of its officers and directors with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and the dissemination of materially false and misleading statements regarding the nature of El Paso's trading practices and revenues caused El Paso's stock price to become artificially inflated, inflicting damages on investors.

If you purchased El Paso securities during the Class Period, you may, no later than September 16, 2002 move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth. If you have sustained substantial losses in El Paso securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at classaction@srk-law.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time.

If you wish to join this action, please visit http://www.srk-law.com/dbjoinaclassaction.asp. If you would like to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or via E-mail at classaction@srk-law.com. For more detailed information about the firm please visit its website at http://www.srk-law.com.

Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania and San Diego, California, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered on behalf of thousands of defrauded shareholders and companies.

More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca



            

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