NEW YORK, July 14, 2006 (PRIMEZONE) -- On July 12, 2006, The Rosen Law Firm filed a complaint on behalf of all investors who purchased the common stock of Sunterra Corporation (Pink Sheets:SNRR) during the period from April 15, 2003 through June 22, 2006. The complaint alleges that Sunterra issued a series of false and misleading financial statements as a result of improper accounting practices in violation of the federal securities laws and follows an investigation by the Rosen Law Firm.
After the Rosen Law Firm initiated the lawsuit, two law firms, Federman and Sherwood and Brower Piven have issued press releases claiming to offer "information" about joining the suit. Be advised that these firms have not even filed a complaint. Rather, the press releases appear to be advertisements designed to solicit clients so that the firm can participate in this case.
If you purchased the common stock of Sunterra Corporation between April 15, 2003, and June 22, 2006, and wish to serve as lead plaintiff, you must move the Court no later than 60 days from July 12, 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. 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 also join this class action online at www.rosenlegal.com
If you are a member of this class, you can view a copy of the complaint as filed or online at www.rosenlegal.com Any member of the class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The Rosen Law Firm 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