BALTIMORE, May 17, 2002 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action has been commenced on behalf of shareholders who acquired Edison Schools, Inc. (Nasdaq:EDSN) securities between November 11, 1999 and May 14, 2002, inclusive (the Class Period).
The case is pending in the United States District Court for the Southern District of New York, against defendants Edison, H. Christopher Whittle, Christopher D. Cerf, Adam Feild and Edison's outside auditor, PricewaterhouseCoopers.
The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market and engaging in improper revenue recognition throughout the Class Period which statements and conduct had the effect of artificially inflating the market price of the Company's securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the Class, you may move the court no later than July 6, 2002 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice.
If you were a purchaser of the stock listed above during the period indicated and want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Law Offices Of Charles J. Piven has been involved in securities litigation for over ten years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/986-0036.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.