BENSALEM, Pa., Aug. 9, 2002 (PRIMEZONE) -- Law Offices of Howard G. Smith today announced that a securities class action has been commenced on behalf of shareholders who acquired MSC Industrial Direct Co, Inc. ("MSC") (NYSE:MSM) between November 4, 1999 and August 5, 2002, inclusive (the "Class Period").
The case is pending in the United States District Court for the Eastern District of New York against the Company and certain of its officers and directors. The Complaint charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period. These false and misleading statements had the effect of artificially inflating the market price of the Company's securities, inflicting damages on investors.
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 acquired the stock listed above during the Class Period, you have certain rights. If you are a member of the class described above, you may move the court not later than October 7, 2002, to serve as lead plaintiff; however, you must meet certain legal requirements.
If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of the Law Offices of Howard G. Smith, by telephone at (215) 638-4847 or Toll Free at (888) 638-4847 by e-mail at LEGUL2000@aol.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.