MILWAUKEE, Wisc., June 10, 2002 (PRIMEZONE) -- The law firms of Mamalakis & Baldwin and Reinhart Boerner Van Deuren s.c. announce that a class action lawsuit was filed on May 30, 2002, on behalf of all clients of broker Donna Vogt of Raymond James Financial Services, Inc. who purchased the Grand Prix Fund (Nasdaq:GPFFX) (Nasdaq:GPFCX), the Oppenheimer MidCap Fund (Nasdaq:OMDBX) and the Van Kampen Emerging Growth Fund (Nasdaq:ACEMX) (Nasdaq: ACEFX) between April 1, 1999, and December 31, 2001, inclusive. A copy of the complaint filed in this action is available from the Court or can be obtained by contacting Mamalakis and Baldwin at 414-224-0300.
The action is pending in the United States District Court, Eastern District of Wisconsin, located at 517 E. Wisconsin Avenue, Milwaukee, Wisconsin, against defendants Donna Vogt, Raymond James Financial, Inc. and Raymond James Financial Services, Inc.
The Complaint alleges that defendants violated Sections 10(b) and 20 of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by exposing the clients of Donna Vogt, a broker with Raymond James to significant and unreasonable investment risks which were inappropriate for their portfolios. Throughout the Class Period, as alleged in the Complaint, defendants deceptively and systematically recommended non-diversified portfolios of aggressive growth equity mutual funds that concentrated substantially all portfolio risks into a single segment of the economy, in recommending to Donna Vogt's clients that they purchase one or more of the following funds: the Grand Prix Fund, the Oppenheimer MidCap Fund and the Van Kampen Emerging Growth Fund.
If you were a client of Donna Vogt and bought the Grand Prix Fund, the Oppenheimer MidCap Fund and/or the Van Kampen Emerging Growth Fund between April 1, 1999 and December 31, 2001, you may, no later than August 9, 2002, 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 plaintiff." 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 Mamalakis & Baldwin and Reinhart Boerner Van Deuren s.c. or other counsel of your choice, to serve as your counsel on this action.
If you wish to discuss this action with us, or have any questions concerning this notice or your rights and interests with regard to the case, please contact the following attorneys:
R. Timothy Muth Reinhart Boerner Van Deuren s.c. 1000 North Water Street, Suite 2100 Milwaukee, WI 53202 Mailing address: P. O. Box 2965 Milwaukee, WI 53201-2965 Phone number: 414-298-8210 Emanuel Mamalakis Mamalakis & Baldwin 633 West Wisconsin Avenue, Suite 607 Milwaukee, Wisconsin 53203 Phone Number: 414-224-0300