BALA CYNWYD, Pa., Jan. 25, 2002 (PRIMEZONE) -- A shareholder sued Rica Foods, Inc. ("Rica" or the "Company") (AMEX:RCF) claiming that the company misled investors about its business and financial condition, as alleged in a complaint filed by the law firm of Schiffrin & Barroway, LLP.
The complaint was filed in the U.S. District Court for the Southern District of Florida, Miami Division and seeks damages for violations of federal securities laws on behalf of all investors who bought Rica Foods, Inc. securities between January 16, 2001 and December 28, 2001 (the "Class Period").
Schiffrin & Barroway, LLP has prosecuted shareholder class actions for over fourteen years and has recovered more than $1 billion for investors. If you are a shareholder of Rica Foods, Inc. and want to learn more about this lawsuit and about becoming a lead plaintiff, you may visit our Website at www.sbclasslaw.com.
The complaint alleges that Rica Foods, Inc., throughout the Class period, filed documents with the U.S. Securities and Exchange Commission ("SEC"), which failed to disclose that Rica was not in compliance with the credit agreement entered into with Pacific Life Insurance Company on January 16, 2001. The complaint charges that defendants knew that Rica's SEC filings were false and misleading, and further alleges that defendants' misrepresentations caused the price of Rica common stock to be artificially inflated throughout the Class Period.
If you purchased Rica Foods, Inc. securities during the period of January 16, 2001 through December 28, 2001, you may be a member of the class and have until March 11, 2002 to move the court to become a lead plaintiff. To learn more about your rights and interests in this case and your ability to potentially recoup your losses, please contact Schiffrin & Barroway directly at 888-299-7706 (toll free) or 610-822-2221, fax number 610-822-0002, e-mail at info@sbclasslaw.com or visit our Website at www.sbclasslaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca