HOUSTON, August 8, 2003 (PRIMEZONE) -- Emerson Poynter LLP, a securities class action trial law firm, announced today that a class action lawsuit has been filed in the United States District Court for the Middle District of Florida on behalf of purchasers of Catalina Marketing Corporation (NYSE:POS) ("Catalina" or the "Company") publicly traded securities during the period between January 17, 2002 and June 30, 2003 inclusive (the "Class Period"). A copy of the complaint can be obtained from the Court or by making a toll-free call to the Firm.
The lawsuit alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing numerous positive statements concerning the Company's ability to grow its revenues and earnings at a rapid pace and the strong demand that existed for the Company's products, especially at its Health Resource division. In truth and in fact, however, the Company was experiencing a slowdown in its revenue growth because its pharmaceutical clients had curtailed their spending on promotional items, such as the Company's newsletters, and retail pharmacies had become more cautious about participating in the Company's advertising programs and had reduced their distribution of the Company's health newsletters. When these facts were belatedly disclosed by the Company on October 1, 2002, the price of Catalina common stock fell from $27.97 per share to close at $17.90 per share -- a drop of 36% -- on extremely heavy trading volume.
If you bought Catalina publicly traded securities between January 17, 2002 through June 30, 2003, inclusive, and you wish to serve as lead plaintiff, you must move the Court through Emerson Poynter or other counsel of your choice, not later than September 29, 2003. If you are a member of this class, you can join this class action by contacting Emerson Poynter via e-mail or calling toll-free.
Emerson Poynter has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Houston, Texas and Little Rock, Arkansas, but represents investors and consumers throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call toll free or e-mail the firm. John G. Emerson, 830 Apollo Lane, Houston, TX 77058. Phone (281) 488-8854.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca