Spector, Roseman & Kodroff, P.C. Announces the Filing of a Class Action Suit Against Adecco S.A.
24 Februar 2004 - 7:23PM
PR Newswire (US)
Spector, Roseman & Kodroff, P.C. Announces the Filing of a
Class Action Suit Against Adecco S.A. PHILADELPHIA, Feb. 24
/PRNewswire/ -- The law firm of Spector, Roseman & Kodroff,
P.C. announces that a securities class action lawsuit was commenced
in the United States District Court for the Eastern District of New
York, against Adecco S.A. ("Adecco" or the "Company") and certain
of its officers and directors on behalf of purchasers of its
publicly traded securities between March 16, 2000 through January
12, 2004, inclusive (the "Class Period"). The Complaint alleges
that during the Class Period, defendants violated the federal
securities laws by issuing materially false and misleading
financial information contained in Adecco's public filings, press
releases and other public statements. The Complaint alleges that
the Company's revenues and earnings were artificially inflated due
to improper accounting practices. On January 12, 2004, Adecco
announced the delay in the completion of an audit of the Company's
2003 financial results. The Company's press release disclosed that
the delay was the result of "material weaknesses in internal
controls in the Company's North American operations of Adecco
Staffing" and "possible accounting, control andcompliance issues in
the Company's operations in certain countries." As a result of this
disclosure, the Company's stock price dropped more than 30%. If you
purchased Adecco securities during the Class Period, you may, no
later than March 16, 2004, move to be appointed as a Lead Plaintiff
in this class action. A Lead Plaintiff is a representative, chosen
by the Court, 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 Adecco
securities during the Class Period, please contact Spector, Roseman
& Kodroff, P.C., at for a more thorough explanation of the Lead
Plaintiff selection process. If you have relatively small losses,
your ability to participate in any recovery will be protected by
the Lead Plaintiff(s), and you need take no affirmative steps at
this time. If you wish to join this action, please visit
http://www.srk-law.com/dbjoinaclassaction.asp. If you wish to
discuss this action or have any questions concerning this notice or
your rights or interests, please contact plaintiff's counsel Robert
M. Roseman toll-free at 888-844-5862 or via e-mail at . For more
detailed information about the firm please visit its website at
http://www.srk-law.com/. Spector, Roseman & Kodroff, P.C.,
located in Philadelphia, Pennsylvania, concentrates its practice in
complex litigation including actions dealing with securities laws,
antitrust, contract and commercial claims. The firm is active in
major litigation pending in federal and state courts throughout the
United States. The firm's reputation for excellence has been
recognized on repeated occasions by courts which have appointed the
firm as lead counsel in numerous major class actions involving
violations of the federal securities laws and the federal antitrust
laws, and consumer fraud. As a resultof the efforts of the firm,
and its members, hundreds of millions of dollars have been
recovered on behalf of thousands of defrauded shareholders and
companies. DATASOURCE: Spector, Roseman & Kodroff, P.C.
CONTACT: Robert M. Roseman, Spector, Roseman & Kodroff, P.C.,
+1-888-844-5862 Web site:
http://www.srk-law.com/dbjoinaclassaction.asp
http://www.srk-law.com/
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