Dreier Baritz & Federman Files Securities Class Action Lawsuit Against DCI Telecommunications, Inc.

Apr 26, 2001, 01:00 ET from Dreier Baritz & Federman

    OKLAHOMA CITY, April 26 /PRNewswire/ -- Dreier Baritz & Federman has
 commenced a class action lawsuit in the United States District Court for the
 Southern District of New York on behalf of all purchasers of DCI
 Telecommunications, Inc. (Pink Sheets:   DCTC) securities between April 21, 1998
 through June 23, 2000 (the "Class Period").
     The complaint charges DCTC, certain of its officers and directors and
 auditors with violations of sections 10(b) and 20(a) of the Securities Act of
 1934.  The complaint alleges accounting fraud and that DCTC issued materially
 false and misleading financial information concerning its expected and its
 purportedly-achieved revenues and earnings during the Class Period.  The
 complaint alleges that as a result of such misleading information, DCTC's
 securities traded at artificially inflated prices during the Class Period.
     Specifically, the complaint alleges that, throughout the Class Period,
 defendants, including DCTC's auditors, Schnitzer & Kondub, P.C., participated
 in improper accounting for various acquisitions and grossly overvaluing a
 purported $15 million contract and $5 million promissory notes.  It is further
 alleged that these accounting improprieties caused DCTC's financial statements
 to be materially false and misleading.
     Dreier Baritz & Federman specializes in complex litigation, including
 securities litigation and has repeatedly demonstrated its expertise in this
 field.
     If you are a member of the class described above, you may, no later than
 60 days from April 26, 2001, move the court to serve as a lead plaintiff of
 the class, if you so choose.  In order to serve as lead plaintiff, however,
 you must meet certain legal requirements as set out in the Private Securities
 Litigation Reform Act of 1995.  A lead plaintiff is a representative party
 that acts on behalf of other class members in directing the litigation.  Class
 members need not, however, seek appointment as lead plaintiff in order to
 share in any recovery resulting from this litigation.
     If you wish to discuss the claims described above or have any questions
 concerning this notice or your rights, please e-mail us at wFederman@aol.com
 or contact:
 
      William B. Federman
      DREIER BARITZ & FEDERMAN
      120 N. Robinson, Suite 2720
      Oklahoma City, OK 73102
      (405) 235-1560/FAX: (405) 239-2112
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X68458541
 
 

SOURCE Dreier Baritz & Federman
    OKLAHOMA CITY, April 26 /PRNewswire/ -- Dreier Baritz & Federman has
 commenced a class action lawsuit in the United States District Court for the
 Southern District of New York on behalf of all purchasers of DCI
 Telecommunications, Inc. (Pink Sheets:   DCTC) securities between April 21, 1998
 through June 23, 2000 (the "Class Period").
     The complaint charges DCTC, certain of its officers and directors and
 auditors with violations of sections 10(b) and 20(a) of the Securities Act of
 1934.  The complaint alleges accounting fraud and that DCTC issued materially
 false and misleading financial information concerning its expected and its
 purportedly-achieved revenues and earnings during the Class Period.  The
 complaint alleges that as a result of such misleading information, DCTC's
 securities traded at artificially inflated prices during the Class Period.
     Specifically, the complaint alleges that, throughout the Class Period,
 defendants, including DCTC's auditors, Schnitzer & Kondub, P.C., participated
 in improper accounting for various acquisitions and grossly overvaluing a
 purported $15 million contract and $5 million promissory notes.  It is further
 alleged that these accounting improprieties caused DCTC's financial statements
 to be materially false and misleading.
     Dreier Baritz & Federman specializes in complex litigation, including
 securities litigation and has repeatedly demonstrated its expertise in this
 field.
     If you are a member of the class described above, you may, no later than
 60 days from April 26, 2001, move the court to serve as a lead plaintiff of
 the class, if you so choose.  In order to serve as lead plaintiff, however,
 you must meet certain legal requirements as set out in the Private Securities
 Litigation Reform Act of 1995.  A lead plaintiff is a representative party
 that acts on behalf of other class members in directing the litigation.  Class
 members need not, however, seek appointment as lead plaintiff in order to
 share in any recovery resulting from this litigation.
     If you wish to discuss the claims described above or have any questions
 concerning this notice or your rights, please e-mail us at wFederman@aol.com
 or contact:
 
      William B. Federman
      DREIER BARITZ & FEDERMAN
      120 N. Robinson, Suite 2720
      Oklahoma City, OK 73102
      (405) 235-1560/FAX: (405) 239-2112
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X68458541
 
 SOURCE  Dreier Baritz & Federman