BALA CYNWYD, Pa., May 16, 2002 (PRIMEZONE) -- A pending class action charges Eagle Building Technologies, Inc. (Pink Sheets:EGBT) with misleading investors about its revenues and earnings according to the law firm of Schiffrin & Barroway, LLP.
The complaint was filed in the U.S. District Court for the Southern District of Florida. Plaintiff seeks damages for violations of the federal securities laws on behalf of all investors who purchased Eagle Building Technologies, Inc. securities between August 11, 2000 and February 14, 2002 (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 Eagle Building Technologies, Inc. and want to learn more about this lawsuit and about becoming a lead plaintiff, you may visit our website at http://www.sbclasslaw.com/cgi/signup.cgi.
The complaint alleges that Eagle Building Technologies, Inc. issued false and misleading statements to the public about its business and financial condition. Specifically, the complaint alleges that a material amount of the revenues and earnings reported in those financial results included fictitious sales to a purported project in India. The complaint alleges that as a result of these false and misleading statements, the price of Eagle common stock was artificially inflated throughout the Class Period, causing plaintiffs and the other members of the Class to suffer damages.
If you purchased Eagle Building Technologies, Inc. securities between August 11, 2000 and February 14, 2002, you may be a member of the class and have until May 31, 2002 to move the court to become a lead plaintiff. In order to serve as lead plaintiff, however, you must meet certain legal requirements. To be a member of the class, however, you do not need to take any action at this time. Should you decide to seek appointment as a lead plaintiff, you may retain Schiffrin & Barroway, or retain counsel of your choice.
To learn more about your rights and interests in this case and your ability to potentially recoup your losses, please contact Schiffrin & Barroway (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) 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