NEW ORLEANS, April 6, 2007 (PRIME NEWSWIRE) -- Kahn Gauthier Swick, LLC ("KGS") announces that shareholders of Globalstar, Inc. ("Globalstar" or the "Company") (Nasdaq:GSAT) common stock who purchased in the initial public offering ("IPO") or on the open market during the period beginning on or about November 2, 2006 through February 6, 2007 (the "Class Period"), have only 5 days left to move for appointment as lead plaintiff in a securities class action lawsuit currently pending in the United States District Court for the Southern District of New York.
Shareholders who wish to serve as a lead plaintiff must act by April 10, 2007. KGS lawyers are available over the long holiday weekend to assist shareholders who have questions about the lead plaintiff deadline.
If you purchased shares of Globalstar during the period beginning on or about November 2, 2006 through February 6, 2007, you are urged to contact Lewis Kahn, Managing Partner, KGS, toll free 1-866-467-1400, ext. 100, via cell phone at 504-301-7900, or by email at lewis.kahn@kgscounsel.com to learn about your legal rights and how this action may benefit you. For further information on KGS, please visit www.kgscounsel.com.
SPECIAL NOTICE: Multiple law firms often file the same class action. However, courts will generally appoint only one of these firms to prosecute a securities class action on behalf of the shareholders based upon the amount of losses its "lead plaintiffs" have suffered. Accordingly, while KGS urges you to sign up with the firm, KGS also encourages you to carefully evaluate any other firm that may be competing with KGS to prosecute the Globalstar class action, should you be considering another firm. Critical components of a law firm's ability to successfully prosecute this action and obtain a strong recovery for you include the resources it will dedicate to prosecution of the case, including the number of lawyers the firm has available for the Globalstar action, AND the quality of the firm's work. Interested shareholders are encouraged to call for consultation and to request more information about KGS.