BALA CYNWYD, Pa., Oct. 10, 2002 (PRIMEZONE) -- A shareholder sued Cutter & Buck, Inc. ("Cutter & Buck") (Nasdaq:CBUKE) claiming that the company misled investors about its business and financial condition, as alleged in a complaint filed by the law firm of Schiffrin & Barroway, LLP.
The complaint was filed in the U.S. District Court for the Western District of Washington and seeks damages for violations of federal securities laws on behalf of all investors who bought Cutter & Buck, Inc. securities between June 23, 2000 through August 12, 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 Cutter & Buck, 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 Cutter & Buck, Inc. caused its shares to trade at artificially inflated levels. On August 12, 2002, Cutter & Buck issued a press release entitled, "Cutter & Buck Announces Discovery of Accounting Irregularities in Fiscal Years 2000 and 2001; Reports Resignation of Chief Financial Officer; Announces Preliminary First Quarter Fiscal Year 2003 Operating Results." On this news, the stock dropped to below $4 per share on volume of more than 468,000 shares.
If you purchased Cutter & Buck, Inc. securities between June 23, 2000 through August 12, 2002, you may be a member of the class and have until November 12, 2002 to move the court to become a lead plaintiff. To learn more about your rights and interests in this case and your ability to potentially recoup your losses, please contact Schiffrin & Barroway 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