NEW YORK, June 4, 2005 (PRIMEZONE) -- The Rosen Law Firm, http://rosenlegal.com, previously announced it had filed a securities class action on behalf of purchasers of United American Healthcare Corp. (Nasdaq:UAHC) publicly traded common stock during the period between May 26, 2000, through April 22, 2004.
The Rosen Law Firm represents UAHC investors who have brought a class action on behalf of all persons who purchased UAHC common stock during the class period. The case is pending in the United States District Court for the Eastern District of Michigan.
To join the UAHC class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com for information on the class action.
The Complaint alleges that the defendants violated the federal securities laws by failing to disclose the Company's improper business and financial relationship with a legislator having oversight of UAHC's Healthplan. According to the complaint, this relationship was in violation of the Company's contract with the State of Tennessee and has caused the state to place UAHC's Healthplan under administrative supervision. The complaint alleges that as a result, investors could not understand or accurately assess the extent to which UAHC's ongoing operations, reported revenue, and income were dependent upon the improper political payments scheme.
Investors have until July 26, 2004 to apply to the court to serve as lead plaintiff. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com. You can also join this class action online at http://www.rosenlegal.com
The Rosen Law Firm http://www.rosenlegal.com has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.