Law Offices of Brodsky & Smith, LLC Announces Class Action Lawsuit Against Certain Officers of Polaroid Corporation and KPMG LLP -- PRDCQ


BALA CYNWYD, Pa., Sept. 30, 2003 (PRIMEZONE) -- The Law offices of Brodsky & Smith, LLC today announced that a securities class action lawsuit has been filed on behalf of shareholders who purchased the common stock and other securities of Polaroid Corporation ("Polaroid" or the "Company") (Other OTC:PRDCQ), between January 26, 2000 and August 9, 2001, inclusive (the "Class Period"). The class action lawsuit was filed against certain of the Company's officers and directors, as well as against the Company's auditor, KPMG, in the United States District Court for the Southern District of New York.

The Complaint alleges that during the Class Period, the defendants violated federal securities laws by issuing a series of material misrepresentations and filing numerous reports with the SEC that misrepresented the Company's financial condition, thereby artificially inflating the price of Polaroid securities. During the same time period, KPMG issued unqualified audit opinions regarding the Company's financial statements.

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 purchased Polaroid stock between January 26, 2000 and August 9, 2001 you have certain rights. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you want to discuss your legal rights, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Marc L. Ackerman, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.

More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca



            

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