SAN FRANCISCO, Nov. 19 /PRNewswire/ -- Gold Bennett Cera & Sidener LLP
announced today that it has filed a class action in the United States District
Court Southern District of Texas, Houston Division, Case No. H-01-4009, on
behalf of purchasers of Enron Corporation (NYSE: ENE) ("Enron") common stock
during the period of November 15, 1998 through November 8, 2001, inclusive
(the "Class Period"). Plaintiff seeks to recover damages on behalf of all
purchasers of Enron securities during the Class Period.
The plaintiff is represented by the San Francisco law firm of Gold Bennett
Cera & Sidener LLP. For over 30 years, Gold Bennett Cera & Sidener LLP and
its predecessors have successfully engaged in complex commercial litigation,
including shareholder, consumer and antitrust class actions, in federal and
state courts throughout the United States, recovering hundreds of millions of
dollars for its clients. Purchasers of Enron securities may
http://www.gbcsf.com for additional information about the Firm's practice.
The Complaint alleges that Enron and certain officers and directors
violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and
Rule 10b-5 promulgated thereunder. Specifically, the Complaint alleges that
defendants misrepresented and/or omitted to state material facts regarding
Enron's business and financial results during the Class Period to artificially
inflate and maintain the price of the Company's securities.
On November 8, 2001, prior to the opening of the market, Enron shocked the
investing public by announcing that it would restate its financial results for
1997, 1998, 1999 and 2000, and the first two quarters of 2001 to correct
accounting irregularities which had caused Enron's to overstate its net income
by hundreds of millions of dollars. Enron also admitted that the audit
reports which had been issued for its financial reports during those periods
could not be relied upon. As a result of the restatements, Enron was forced
to reduce shareholders' equity by $1.2 billion. Upon revelation of this news,
Enron's stock plummeted to $8.41 per share, down from a Class Period high of
approximately $90 per share.
If you are a member of the Class described above, you may, no later than
December 21, 2001, move the Court to serve as lead plaintiff of the Class, if
you so choose. In order to serve as lead plaintiff, however, you must meet
certain legal requirements. If you wish to discuss this action or have any
questions concerning this case or your rights or interests, please contact
Gwendolyn Giblin, Esq. of Gold Bennett Cera & Sidener LLP, 595 Market Street,
Suite 2300, San Francisco, California 94105, by telephone at 800-778-1822 or
415-777-2230, by facsimile at 415-777-5189 or by e-mail at Enron@gbcsf.com.
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SOURCE Gold Bennett Cera & Sidener LLP