FOX & KILSHEIMER LLP FILES SECURITIES
FRAUD CLASS ACTION AGAINST
THE WARNACO GROUP, INC.
YORK – August 25, 2000- Kaplan Fox & Kilsheimer LLP
has filed a Class Action against The Warnaco Group, Inc. and certain
of the Company's officers and directors in the United States District
Court for the Southern District of New York. The suit is brought
on behalf of all persons or entities who purchased the common stock
of The Warnaco Group, Inc. ("Warnaco" or the "Company") (NYSE: WAC)
between September 17, 1997 through July 20, 2000 (the "Class
The complaint charges Warnaco and certain of its
officers and directors with violations of the Securities Exchange
Act of 1934. The complaint alleges that defendants' made false and
misleading statements about the strong sales of Warnaco's existing
Calvin Klein products, and its purported strong revenues and earnings,
together with the quality and value of its inventory. The complaint
further alleges that, defendants' engaged in a fraudulent scheme
and course of business that (i) deceived the investing public regarding
Warnaco's prospects and business; (ii) artificially inflated the
prices of Warnaco's common stock; (iii) allowed defendants to sell
over 1 million shares of their Warnaco stock for $14.6 million in
insider trading proceeds; (iv) allowed defendants to use Warnaco
stock as currency to fund its stock-for-stock acquisitions; and
(v) caused plaintiff and other members of the Class to purchase
Warnaco common stock at inflated prices.
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. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.KaplanFox.com. If you are a member of the Class, you may
move the court no later than October 22, 2000, to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you have any questions about
this Notice, the action, your rights, or your interests, please e-mail us at mail@KaplanFox.com or contact:
Frederic S. Fox, Esq.
Janine R. Azriliant, Esq.
Hae Sung Nam, Esq.
Kaplan Fox & Kilsheimer LLP
805 Third Avenue - 22nd Floor
New York, NY 10022
Fax: (212) 687-7714
E-mail address: mail@KaplanFox.com
Back to the Main List
Please Click Here to Join the Class Actions or Request Information