NEW YORK, March 11, 2002 (PRIMEZONE) -- A securities class action lawsuit was filed on February 7, 2002 on behalf of all person who acquired common stock of Williams Companies, Inc. (NYSE:WMB) and/or Williams Communication Group, Inc. (NYSE:WCG) during the period between July 24, 2000 and January 29, 2002, inclusive (the "Class Period"). A copy of this complaint is available from the court or from Abbey Gardy, LLP. Please contact Nancy Kaboolian, Esq. or Jennifer Haas at 1-800-889-3701 or by email at Jhaas@abbeygardy.com.
The complaint alleges that the defendants, WMB, WCG, Keith E. Bailey, Howard E. Janzen and Scott E. Schubert, 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 between July 24, 2000 and January 29, 2002, thereby artificially inflating the price of WMB common stock and WCG common stock.
Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired securities during the Class Period. If you purchased or otherwise acquired WMB or WCG common stock between July 24, 2000 and January 29, 2002 inclusive, and you wish to serve as lead plaintiff, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than April 1, 2002.
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. You may retain Abbey Gardy, LLP, or other counsel of your choice, to serve as your counsel in this action.
Abbey Gardy, LLP has been retained as one of the law firms to represent the Class. The attorneys at Abbey Gardy, LLP have extensive experience in securities class action cases, and have played lead roles in major cases resulting in the recovery of hundreds of millions of dollars to investors. 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 Nancy Kaboolian, Esq. or Jennifer Haas of Abbey Gardy, LLP at (800) 889-3701 or email JHaas@abbeygardy.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca