BALA CYNWYD, Pa., June 20, 2002 (PRIMEZONE) -- Shareholders of 24/7 Real Media, Inc. (Nasdaq:TFSM) ("TFSM" or the "Company") who desire to serve as a lead plaintiff in a shareholder class action lawsuit now pending in federal court in New York (02-CV-4287) must submit an application with the Court by June 25, 2002 according to the law firm of Schiffrin & Barroway, LLP.
The lawsuit seeks damages for violations of the federal securities laws on behalf of all investors who purchased 24/7 Real Media, Inc. securities between May 12, 1999 through November 9, 2000 (the "Class Period").
Schiffrin & Barroway, LLP has prosecuted shareholder class actions for over fourteen years and has recovered more than $1 billion for investors. If you are a shareholder of 24/7 Real Media, Inc. and want to learn more about this lawsuit and about becoming a lead plaintiff, you may visit our website at http://www.sbclasslaw.com/cgi/signup.cgi.
The Complaint alleges that in order to maintain and enhance Merrill Lynch's investment banking relationships with TFSM, defendants issued analyst reports with positive ratings on TFSM which were materially misleading as they were inconsistent with their own contemporaneous, private adverse assessments of TFSM made at the same time, but never revealed to the public. For example, defendants were repeatedly issuing a short-term accumulate, long-term buy rating on TFSM despite their internal e-mails, which criticized an investment in TFSM.
If you purchased 24/7 Real Media, Inc. securities between May 12, 1999 through November 9, 2000, you may be a member of the class and have until June 25, 2002 to move the court to become a lead plaintiff. In order to serve as lead plaintiff, however, you must meet certain legal requirements. To be a member of the class, however, you do not need to take any action at this time. Should you decide to seek appointment as a lead plaintiff, you may retain Schiffrin & Barroway, or retain counsel of your choice.
To learn more about your rights and interests in this case and your ability to potentially recoup your losses, please contact Schiffrin & Barroway (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) directly at 888-299-7706 (toll free) or 610-822-2221, fax number 610-822-0002, e-mail at info@sbclasslaw.com or visit our website at www.sbclasslaw.com.
More information on this and other class actions can be found on the Class Action Newsline at http://www.primezone.com/ca