BALTIMORE, April 23, 2005 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. today announced that securities class actions have been commenced on behalf of those who acquired the securities of Doral Financial Corporation ("Doral" or the "Company") (NYSE:DRL) from May 15, 2000 through April 18, 2005 (the "Class Period").
Cases are pending in the United States District Court for the Southern District of New York and in the United States District Court for the District of Puerto Rico. The actions charge that the Company and certain officers and/or directors violated federal securities laws by issuing a series of materially false and misleading statements to the market during the Class Period, which statements had the effect of artificially inflating the market price of the Company's securities. The Company has announced that it should restate its financials.
No class has yet been certified in the above actions. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the proposed class, you may ask the court no later than June 20, 2005 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. You may retain counsel of your choice, and to be a member of the proposed class you need not take any action at this time.
If you acquired shares of Doral during the Class Period and want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Charles J. Piven has been involved in securities litigation for approximately 20 years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/986-0036.
More information on this and other class actions can be found on theClass Action Newsline at www.primezone.com/ca