NEW YORK, Jan. 31, 2002 (PRIMEZONE) -- Since shareholders first filed a lawsuit against A.C.L.N., Ltd. (NYSE:ASW) more relevant information has been revealed including news of government investigations into the conduct at issue. In a 6-K dated January 4, 2002 ACLN disclosed that the Securities and Exchange Commission had commenced an investigation into practices of the company. The filing states, "The SEC staff has advised the Company that it had serious questions regarding disclosures made by ACLN in Commission filings."
Class action lawsuits have been filed on behalf of investors who purchased ACLN securities between December 27, 1998 and December 20, 2001, inclusive. Investors who purchased ACLN shares during the above referenced period have only 20 more days, until February 19, 2002, to move the Court to serve as lead plaintiff of the proposed class, if they so choose. A copy of the complaint filed by Kirby McInerney & Squire in the U.S. District Court for the Southern District of New York is available from the Court or from the firm's Website at www.kmslaw.com. The Website also contains information concerning securities class actions in general. Additional information can be obtained from:
Ira Press, Esq. Melissa Fleming, Paralegal KIRBY McINERNEY & SQUIRE, LLP 830 Third Avenue, 10th Floor New York, New York 10022 Telephone: (212) 317-2300 or Toll Free (888) 529-4787
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca