PHILADELPHIA, March 15, 2002 (PRIMEZONE) -- Berger & Montague, P.C. (http://www.bergermontague.com) filed a class action lawsuit on behalf of two investors in the United States District Court for the Southern District of Texas on behalf of purchasers of Hanover Compressor Company ("Hanover") (NYSE:HC) publicly traded securities during the period between November 8, 2000 and January 28, 2002 (the "Class Period").
If you wish to serve as lead plaintiff for this action, you may move the Court no later than April 5, 2002. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Barbara Podell or Jacob Goldberg of Berger & Montague, P.C. at 888/891-2289 or via e-mail at investorprotect@bm.net. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that Hanover and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Hanover is a provider of natural gas compression, gas handling and related services in the United States and selected international markets. The complaint alleges violations of the federal securities laws arising out of defendants' issuance of false financial statements and other false and misleading statements about the Company's operating performance. Defendants failed to disclose facts relating to a partnership in which it had an equity interest, including that it used income from that partnership to overstate revenue and income for the third and fourth quarters of fiscal 2000. This aided certain insiders to sell 7.5 million shares of stock in a secondary public offering in March, 2001 and for the Company to issue 4.75% Convertible Senior Notes due 2008, based on more favorable financial results. Plaintiffs seek to recover damages on behalf of all purchasers of Hanover publicly traded securities during the Class Period (the "Class").
If you purchased Hanover securities during the period from November 8, 2000 through January 28, 2002, inclusive, you may, no later than April 5, 2002, move to be appointed as a Lead Plaintiff. A Lead Plaintiff is a representative party that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the "largest financial interest'' in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest,'' and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth. If you have sustained substantial losses in Hanover securities during the Class Period, please contact Berger & Montague, P.C. at investorprotect@bm.net for a more thorough explanation of the Lead Plaintiff selection process.
The law firm of Berger & Montague, P.C. has over 50 attorneys, all of whom represent plaintiffs in complex litigation. The Berger firm has extensive experience representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries of several billion dollars to investors. The firm is currently representing investors as lead counsel in actions against Rite Aid, Sotheby's, Waste Management, Inc., Sunbeam, Boston Chicken and IKON Office Solutions, Inc.
If you purchased Hanover securities during the Class Period, or have any questions concerning this notice or your rights with respect to this matter you can get information and sign up on line at www.bergermontague.com or contact:
Todd S. Collins, Esquire
Kimberly A. Walker, Investor Relations Manager
Berger & Montague, P.C.
1622 Locust Street
Philadelphia, PA 19103
Phone: 888-891-2289 or 215-875-3000
Fax: 215-875-5715
Website: http://www.bergermontague.com
e-mail: InvestorProtect@bm.net
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca