Canada Online > Business > Primus Canada
Press Release
Class Action Lawsuit against Primus Telecommunications Group, Inc. PRTL announced by Law Offices of Charles J. Piven, P.A.
BALTIMORE, Aug. 18, 2004 (PRIMEZONE) - Law Offices of Charles J. Piven, P.A. today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Primus Telecommunications Group, Inc. ("Primus") (NasdaqNM:PRTL - News) between November 11, 2003 and July 29, 2004, inclusive (the "Class Period").
The Class Action Lawsuit against Primus Telecommunications Group is pending in the United States District Court for the Eastern District of Virginia against defendant Primus and/or one or more of its officers and/or directors. The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Primus Telecommunications Group, Inc.'s securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the proposed class, you may move the court no later than October 18, 2004 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the proposed class you need not take any action at this time, and you may retain counsel of your choice.
If you acquired shares of Primus Telecommunications Group, Inc. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call Law Offices of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions.
The firm is also examining whether the conduct described in the action also may have violated the Employee Retirement Income Security Act of 1974 (``ERISA'') in relation to itshandling of investments in the Company's employee retirement benefit plan, if any. The firm is assessing whether Primus Telecommunications Group, Inc. and/or any administrators of any plans breached their fiduciary duties by: (a) negligently misrepresenting and negligently failing to disclose material facts to the retirement benefit plan and the plan participants in connection with the management of the plan's assets and (b) negligently permitting the retirement benefit plan to purchase and hold Primus stock when it was imprudent to do so.
Charles J. Piven has been involved in securities litigation for approximately 20 years. You may contact Law Offices of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410-986-0036.
More information on this Primus Telecommunications Group, Inc. class action and other class action lawsuits can be found on the Class Action Newsline at http://www.primezone.com/ca.
Contact:
Law Offices of Charles J. Piven, P.A., Baltimore, Maryland
Charles J. Piven
(410) 986-0036
hoffman@pivenlaw.com
Source: Law Offices Of Charles J. Piven, P.A.
Primus Telecommunications Canada - Primus Canada Official Web Site Address
Primus Telecommunications Canada
Official Primus Canada Web Site: http://www.primustel.ca
Primus Canada TORONTO
Primus Telecommunications Canada Inc
5343 Dundas Street W., Suite 400
Etobicoke, Ontario
M9B 6K5
Primus Telecommunications Group Inc - Official Web Site Address
Primus Telecommunications Group Inc
1700 Old Meadow Road, Suite 300
McLean, VA 22102
Phone: (703) 902-2800
Fax: (703) 902-2877
Official Primus Web Site: http://www.primustel.com
Class Action Lawsuits against Primus Canada's US parent company, Primus Telecommunications Group, Inc. PRTL
Law Offices of Charles J. Piven, P.A. Announces Class Action Lawsuit against Primus Telecommunications Group, Inc. PRTL
