NEW YORK, Jan. 9, 2004 (PRIMEZONE) -- Abbey Gardy, LLP commenced a Class Action lawsuit in the United States District for the Northern District of Georgia (Case No. 03 CV 3495), on behalf of persons who purchased or otherwise acquired publicly traded securities of Friedman's Inc. ("Friedman's" or the "Company") (NYSE:FRM) between January 26, 2000 and November 17, 2003, inclusive (the "Class Period").
The Complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market during the Class Period thereby artificially inflating the price of Friedman's securities. Named as defendants are the Company, Victor M. Suglia, Bradley J. Stinn, Sterling B. Brinkley and Douglas Anderson.
Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired 's securities during the Class Period. If you purchased or otherwise acquired Friedman's securities during the Class Period, and either lost money on the transaction or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased Friedman's securities during the Class Period, you may, no later than January 13, 2004 request that the Court appoint you as lead plaintiff.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiffs." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.
If you would like to discuss this action or if you have any questions concerning this Notice or your rights as a potential class member or lead plaintiff, you may contact:
Susan Lee Abbey Gardy, LLP 212 East 39th Street New York, New York 10016 (212) 889-3700 (800) 889-3701 (Toll Free) Or e-mail her at slee@abbeygardy.com Website: www.abbeygardy.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca