COLCHESTER, Conn., April 11, 2006 (PRIMEZONE) -- Scott+Scott, LLC notifies shareholders that four business days remain in which to request that the Court appoint them as lead plaintiff in a securities-fraud action against Coca-Cola Enterprises, Inc. (NYSE:CCE) ("CC Enterprises" or the "Company"). Scott+Scott filed a complaint against the Company and insiders on March 31, 2006, on behalf of CCE securities purchasers during the period October 15, 2003 through July 28, 2004, inclusive (the "Class Period"), for securities law violations. CC Enterprises engages in the manufacture, distribution, sale and marketing of nonalcoholic beverages primarily under agreements with The Coca-Cola Company.
According to the complaint, during the Class Period, defendants failed to disclose that they were "channel stuffing" their inventory to conceal that soft drink sales were no longer as robust as earlier announced. Defendants' false and misleading statements concealed that the Company's 2004 financial forecasts remained unachievable and that it would be difficult for analysts and investors to accurately determine the Company's potential for revenues and growth for present and future quarters as a result of the Company's channel-stuffing practices. Consequently, as alleged, investors purchased their CCE shares at artificially inflated prices, while Company insiders were able to sell over $96.7 million of Company securities.
If you purchased CCE securities during the Class Period and wish to serve as lead plaintiff in the action, you must seek appointment from the court no later than April 17, 2006. Any purported class member may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott partner David R. Scott (drscott@scott-scott.com, 800/404-7770, 860/537-5537) or visit www.scott-scott.com for more information. There is no cost or fee to you.
Scott+Scott is a firm with significant experience in prosecuting investor class actions. The firm dedicates itself to client communication and satisfaction and currently is litigating major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, charities, foundations, individuals and other entities worldwide.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca