NEW YORK, Feb. 10, 2003 (PRIMEZONE) -- Notice is hereby given that a class action lawsuit was commenced in the United States District Court for the Southern District of New York, on behalf of all purchasers of Aegon, N.V. ("Aegon" or the "Company") (NYSE:AEG) securities between August 9, 2001 and July 22, 2002, inclusive (the "Class Period"). A copy of the complaint filed in this action will be available on the firm's website at www.faruqilaw.com.
The complaint charges defendants with violations of federal securities laws by, among other things, issuing a series of materially false and misleading press releases concerning Aegon's financial results and business prospects. Specifically, the complaint alleges that despite slumping stock markets, Aegon touted that it was less vulnerable to market shifts because of its "high quality market investments" and that the Company was not subject to sharp downward variations in annual net income. Moreover, the Company reassured investors that its 2002 earnings would at least match its 2001 earnings. The market was then stunned, however, when the Company announced on July 22, 2002 that net income for 2002 would be 30% to 35% lower than in 2001. As a result of this revelation on July 22, 2002, the stock declined to $13.25 per share from $16.99 per share the previous trading day.
Plaintiff seeks to recover damages on behalf of herself and all other individual and institutional investors who purchased or otherwise acquired Aegon securities between August 9, 2001 and July 22, 2002, excluding defendants and their affiliates. Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud.
If you wish to obtain information concerning joining this action you can do so under the "Join Lawsuit" section of our website at www.faruqilaw.com.
If you purchased Aegon securities during the Class Period, you may, not later than March 31, 2003, move the court to serve as lead plaintiff of the class. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
ERIC CRUSIUS, ESQ. ANTHONY VOZZOLO, ESQ. FARUQI & FARUQI, LLP 320 East 39th Street New York, NY 10016 Telephone: (877) 247-4292 or (212) 983-9330 e-mail Ecrusius@faruqilaw.com Avozzolo@faruqilaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.