NEW YORK, Oct. 24, 2002 (PRIMEZONE) -- On October 10, 2002, Wolf Popper LLP filed a securities fraud class action complaint against DPL Inc. (NYSE:DPL), its Chairman Peter H. Forster, and two of its senior officers on behalf of purchasers of DPL common stock from March 30, 1999 through August 14, 2002. A copy of the complaint is available from the U.S. District Court for the Southern District of Ohio -- Western Division, and on Wolf Popper's website at www.wolfpopper.com.
The plaintiff alleges in the class action that during the Class Period (March 30, 1999 through August 14, 2002, inclusive) defendants falsely represented the financial health of DPL's portfolio of financial assets, thus inflating DPL's stock price. During the Class Period, shares of DPL common stock closed at as high as $33.68 per share. When the truth about the losses in DPL's portfolio of financial assets was revealed after the close of regular trading on July 1, 2002, the price of DPL common stock fell to $21.57 per share. DPL common stock continued to decline as additional information was revealed, and closed on October 2, 2002 at $16.60 per share.
Any member of the class who desires to be appointed lead plaintiff in the class action must file a motion with the Court no later than December 9, 2002. Class members must meet certain legal requirements to serve as a lead plaintiff. If you have questions or information regarding this action, or if you are interested in serving as a lead plaintiff in this action, you may call or write:
Wolf Popper LLP, Robert C. Finkel, Esq. 845 Third Avenue, New York, NY 10022-6689; Tel.: 212.451.9620, Toll Free: 877.370.7703; Fax: 212.486.2093, Toll Free: 877.370.7704; Email: irrep@wolfpopper.com; website: www.wolfpopper.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca