BENSALEM, Pa., June 16, 2006 (PRIMEZONE) -- Law Offices of Howard G. Smith announces a July 10, 2006, deadline to move to be a lead plaintiff in the securities class action lawsuit filed on behalf of shareholders who purchased securities of Escala Group, Inc. ("Escala Group" or the "Company") (Nasdaq:ESCL) between September 5, 2003 and May 10, 2006, inclusive (the "Class Period"). The shareholder lawsuit is pending in the United States District Court for the Southern District of New York.
The Complaint alleges that defendants violated federal securities laws by issuing a series of material misrepresentations to the market during the Class Period concerning the Company's business and the activities of its majority shareholder, thereby artificially inflating the price of Escala Group securities.
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. If you purchased Escala Group securities between September 5, 2003 and May 10, 2006, you have certain rights, and have until July 10, 2006, in which to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmithlaw@hotmail.com or visit our website at www.howardsmithlaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca