METAIRIE, La., Sept. 20, 2007 (PRIME NEWSWIRE) -- Law Offices of Eric J. O'Bell, LLC ("O'Bell") announce that a class action lawsuit has been filed against Opteum Inc. ("Opteum" or the "Company") (NYSE:OPX) in the United States District Court for the Southern District of Florida, on behalf of shareholders who purchased the common stock of the Company in connection with, or traceable to, its September 2004 Initial Public Offering and/or the December 2004 Secondary Offering (the "Offerings"), and including shareholders who purchased shares in the open market between November 3, 2005 and May 10, 2007, inclusive (the "Class Period").
The Company and certain of its officers, directors and underwriters are charged with including false and misleading statements in the registration statements and proxy-prospectuses issued in connection with the Offerings in direct violation of the Securities Act of 1933 (the "Securities Act"). Additionally, the Company and certain of its officers and directors are charged with making a series of materially false and misleading statements related to the Company's business and operations in violation of the Securities Exchange Act of 1934 (the "Exchange Act").
If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than November 19, 2007. Any member of the putative 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. If you would like to discuss your legal rights, you may e-mail or call Eric J. O'Bell, managing partner, Law Offices of Eric J. O'Bell, LLC, without obligation or cost to you at 504-456-8677, or by email at ejo@obelllawfirm.com.