NEW YORK, Oct. 29, 2004 (PRIMEZONE) -- Goodkind Labaton Rudoff & Sucharow LLP has been retained to represent bondholders in a class action lawsuit against United Rentals Inc. ("United Rentals" or the "Company") (NYSE:URI) now pending in the United States District Court for the District of Connecticut. The suit was brought on behalf of persons who purchased or otherwise acquired publicly traded securities of the Company between October 23, 2003 and August 30, 2004, inclusive, (the "Class Period").
Existing complaints allege that named defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the complaints allege that the Company failed to disclose and misrepresented that the Company in an attempt to inflate its stock price and raise capital, manipulated its financial results through the use of restructuring charges, asset write downs and a major debt refinancing, that it improperly delayed recognition of bad accounts receivables and that as a result of these manipulations, its reported results were not presented in accordance with Generally Accepted Accounting Principles ("GAAP").
Goodkind Labaton is one of the country's premier national law firms that represent individual and institutional investors in class action, complex securities and corporate governance litigation. The firm has been a champion of investor rights for over 40 years and has been recognized for its reputation for excellence by the courts. Goodkind Labaton was recently ranked fourth in total recoveries in 2003 among the top 50 plaintiffs' law firms by Institutional Shareholder Services (ISS), the world's leading provider of proxy and corporate governance services. Notably, Goodkind Labaton recovered over half a billion dollars for its clients last year.
If you bought United Rentals bonds between October 23, 2003 and August 30, 2004, inclusive, you may qualify to serve as Lead Plaintiff. Lead Plaintiff papers must be filed with the court no later than November 29, 2004. If you would like to consider serving as lead plaintiff or have any questions about the lawsuit, please contact one of our representatives or Christopher Keller, Esq. at 800-321-0476.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.