NEW YORK, Aug. 23, 2002 (PRIMEZONE) -- A class action Complaint has been filed in the United States District Court for the District of Minnesota, civil action number 02 cv 2970 JMR/FLN, on behalf of all persons or entities who purchased securities of PEMSTAR, Inc. ("PEMSTAR" or the "Company") (Nasdaq:PMTR) between June 8, 2001 through May 3, 2002, both dates inclusive (the "Class Period"). PEMSTAR Inc., Allen J. Berning, and William J. Kullback are named as defendants in the complaint.
To discuss this action, this announcement, or your rights or interests, please contact plaintiff's counsel, Eric J. Belfi or Sharon Lee, Rabin & Peckel LLP, 275 Madison Avenue, New York, NY 10016, by telephone at (800) 497-8076 or (212) 682-1818, by facsimile at (212) 682-1892, or by e-mail at email@rabinlaw.com.
The complaint charges PEMSTAR and certain of its officers and directors with violations of the Securities Exchange Act of 1936. The complaint alleges that the defendants caused the issuance of false and misleading statements. In particular, during the Class Period PEMSTAR made materially false and misleading statements concerning the value of its inventory and its accounts receivables.
Plaintiff is represented by the law firm of Rabin & Peckel LLP. Rabin & Peckel LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States. You can learn more information about Rabin & Peckel LLP at www.rabinlaw.com.
If you purchased PEMSTAR securities during the Class Period described above, you may, no later than September 23, 2002, move the Court to serve as lead plaintiff. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this action as a lead plaintiff online at www.rabinlaw.com. Contact plaintiffs' counsel Eric J. Belfi or Sharon Lee of Rabin & Peckel LLP to further discuss this action, this announcement, or your rights or interests.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.