FOX & KILSHEIMER LLP FILES CLASS ACTION AGAINST PLAINS ALL AMERICAN
NEW YORK -- --Kaplan Fox & Kilsheimer LLP has filed a Class Action lawsuit against Plains All American Pipeline ("PAA'" or the "Company") (NYSE: PAA)
and certain of its officers and directors in the United States District Court for the Northern District of Texas. The suit is brought on behalf of all persons or entities who purchased the common stock of PAA
between November 23, 1998 and November 29, 1999, inclusive (the "Class Period@).
The Complaint charges PAA and certain officers and directors with violations of the securities laws and regulations of the United
States. The complaint alleges, among other things, that during the Class Period, the defendants knowingly or recklessly made misrepresentations and/or omissions of material facts. Specifically, during the Class Period,
defendants made a series of false and misleading statements concerning material facts relating to significant trading losses, in violation of generally accepted accounting principles, (AGAAP@). Following defendants=
disclosure on November 29, 1999 relating to PAA=s $160 million trading loss, PAA=s common stock closed at $10.375 per share, a 48.1% decline from the high during the Class Period.
Plaintiff seeks to recover damages on
behalf of the Class and is represented by Kaplan Fox & Kilsheimer LLP, which has many years of experience in prosecuting investor class actions and actions involving financial fraud.
If you are a member of the
Class, you may move the court, no later than 60 days to serve as a lead plaintiff for the class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
To ensure that your name will be
included in a list of class members or, if you have any questions concerning this Notice, the action, or your rights, please visit our website at www.KaplanFox.com
Frederic S. Fox, Esq.
Adrienne L. Valencia, Esq.
Donald R. Hall, Esq
Kaplan Fox & Kilsheimer LLP
fax: (212) 687-7714
e-mail address: mail@KaplanFox.com
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