NEW YORK, Dec. 9, 2005 (PRIMEZONE) -- The Rosen Law Firm (http://www.rosenlegal.com) announced today that a class action has been commenced in the United States District Court for the District of Southern District of New York on behalf of purchasers of EVCI Career Colleges Holdings Corp. ("EVCI") (Nasdaq:EVCI) common stock during the period between November 14, 2003 and October 19, 2005, inclusive (the "Class Period").
To join the EVCI securities litigation as a plaintiff or for further information, please call Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
You can join the class action online at http://www.rosenlegal.com.
A class action lawsuit has already been filed on behalf of EVCI shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than February 6, 2006. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. 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. You may also remain an absent class member.
The complaint charges that during the Class Period, EVCI, through its subsidiary, Interboro Institute, Inc. ("Interboro"), violated federal securities laws, in that the Company misrepresented and failed to disclose that Interboro did not maintain, among other things, adequate equipment, libraries, admissions control, and teaching staff to support its growing enrollment, in violation of the New York State Education Department's ("NYSED") educational minimum standards. As a result, defendants misled investors concerning EVCI's earning and enrollment growth and obtained millions of dollars in proceeds from the sales of EVCI's inflated stock price, when the Company knew or recklessly disregarded that it would have to limit its growth and spend substantial sums to meet the NYSED minimum requirements.
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.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca