FOX & KILSHEIMER LLP FILES
CLASS ACTION AGAINST DAIMLER CHRYSLER AG
NEW YORK – December 6, 2000 –
Kaplan Fox & Kilsheimer LLP (www.KaplanFox.com) has filed a Class Action against
DaimlerChrysler AG and certain of the Company’s officers and directors in the United States District Court for the District of Deleware. The suit is brought on
behalf of (a) all former shareholders of Chrysler Corporation who held shares of Chrysler on August 6, 1998 and exchanged those shares for shares of DaimlerChrysler
AG as a result of a merger between Chrysler and Daimler-Benz AG; and (b) all shareholders who bought or otherwise acquired DaimlerChrysler stock (NYSE:DCX) between
August 6, 1998 through November 20, 2000, inclusive (the "Class Period").
The complaint charges defendants with
violations of the Securities Exchange Act of 1934. This action concerns material misrepresentations and omissions arising from Daimler-Benz AG's acquisition of
Chrysler in 1998. Specifically, defendants promised and assured that Chrysler's well-regarded management team would remain in control of the Chrysler operations as part of
a "merger of equals." In truth and fact, defendants never intended to honor any such commitments but used them as a device to secure shareholder approval,
and then steadily and surreptitiously eroded Chrysler's independence and eviscerated its management team. Chrysler's operations have languished as a satellite of
Daimler-Benz's Stuttgart headquarters, causing the trading value of the securities issued in connection with the Merger and the securities of DaimlerChrysler, to decline
substantially in value.
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 January 29,
2001, 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.
Donald R. Hall, Esq.
Kaplan Fox & Kilsheimer LLP
805 Third Avenue - 22nd Floor
New York, NY 10022
Fax: (212) 687-7714
E-mail address: mail@KaplanFox.com
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