NEW YORK, Aug. 14, 2002 (PRIMEZONE) -- According to Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com), which has filed a class action against Nicor Inc. ("Nicor" or the "Company") (NYSE:GAS) and two of the Company's senior officers, investors who purchased or otherwise acquired the securities of Nicor during the period from January 24, 2002 through July 18, 2002, inclusive (the "Class Period") have until Friday September 20, 2002 to seek appointment by the Court as one of the lead plaintiffs in this action.
The Complaint charges that during the Class Period, defendants issued false and misleading financial statements and press releases concerning the Company's publicly reported earnings.
After the market closed on July 18, 2002, Nicor issued a press release announcing that it may restate prior results in response to improprieties at its gas business. The Company indicated that the Illinois Commerce Commission and other governmental agencies are investigating allegations that the gas distribution business acted improperly in connection with a performance-based rate program. Also according to the press release, reported results for the six months ended June 30, 2002 were negatively impacted by accounting irregularities at a retail energy marketing joint venture which is 50% owned by the Company and 50% owned by Dynegy Inc.
If you purchased the securities of Nicor during the Class Period, you have until Friday, September 20, 2002 to ask the Court to appoint you as lead plaintiff for the Class. To serve as lead plaintiff, you must meet certain legal requirements. If you wish to review a copy of the Complaint, to discuss this action or have any questions, please contact Andrew G. Tolan, Esq. of the Pomerantz firm at 888-476-6529 (or (888) 4-POMLAW), toll free, or at agtolan@pomlaw.com by e-mail. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca