NEW YORK, Feb. 3, 2006 (PRIMEZONE) -- The Rosen Law Firm http://rosenlegal.com reminds investors that they have until February 6, 2006 to seek appointment by the Court as Lead Plaintiff in the class action lawsuit filed by the Rosen Law Firm on behalf of purchasers of EVCI Career Colleges Holdings Corp. ("EVCI") (Nasdaq:EVCI) common stock during the period between August 14, 2003 and December 6, 2005, inclusive (the "Class Period").
To join the EVCI class action, go to the website at http://www.rosenlegal.com or call Phillip Kim, Esq. or Laurence Rosen, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com for information on the class action.
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. The complaint also alleges that EVCI failed to disclose material facts known to it concerning its response to the NYSED draft report -- in that the Company failed to disclose it had agreed to cease all expansion at Interboro. As a result, defendants allegedly 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.
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 February 6, 2006. 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.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.