FOX & KILSHEIMER LLP FILES
SECURITIES FRAUD CLASS ACTION
AGAINST DOLLAR GENERAL CORP.
NEW YORK – May 1, 2001– Kaplan Fox & Kilsheimer LLP (www.KaplanFox.com) has filed a class action against Dollar General Corp. and certain of the Company’s officers and
directors, on behalf of all persons or entities who purchased the common stock of Dollar General Corp. (“Dollar General”) (NYSE:DG) between May 12, 1998 and April 27, 2001
inclusive (the “Class Period”).
The action (case number 3-01-3093) is pending in the United
States District Court for the Middle District of Tennessee, located 801 Broadway, Nashville, TN 37203. The Court may be reached by telephone at (615) 736-5498. Judge
Wiseman and Judge Brown have been assigned to this case.
The complaint charges Dollar General and certain of its officers
and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, Dollar General reported materially false and
misleading financial results for fiscal years 1998, 1999 and 2000 in violation of Generally Accepted Accounting Principles ("GAAP"). As a result of
defendants' fraudulent conduct and misleading statements, the price of Dollar General common stock was artificially inflated throughout the Class Period. On April 30,
2001, the Company issued a press release entitled, "Dollar General Expects to Restate Earnings; Maintains Current Year Guidance." The press release stated in
part, "Dollar General Corporation announced today that it expects to delay the filing of its annual report on Form 10-K for the fiscal year 2000 in anticipation of
restating its audited financial statements for fiscal years 1998 and 1999 as well as restating the unaudited financial information for the fiscal year 2000 as previously
released. The Company has become aware of certain accounting irregularities, and the audit committee of the Company's board of directors is conducting an investigation of
these irregularities." On this news, trading in Dollar General shares plunged to $16.50, a loss of more than 30% in one day.
Plaintiff seeks to recover damages on behalf of
the Class and is represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices in New York, San Francisco, Chicago and New Jersey, 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 June 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.
Christine Fox, 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