Gilman and Pastor, LLP and Sirota & Sirota Announce Summary Notice of Class Action Settlement and Hearing on Settlement:

Apr 12, 2001, 01:00 ET from Gilman and Pastor, LLP

    BOSTON, April 12 /PRNewswire/ -- Gilman and Pastor, LLP and Sirota &
 Sirota have announced the following today for Civil Action No. 3:97-CV-226:
 
 
    UNITED STATES DISTRICT COURT EASTERN DISTRICT OF TENNESSEE AT KNOXVILLE
 
     JAMES M. LYNN, individually and on       )
     behalf of all others similarly situated, )    Civil Action No. 3:97-CV-226
     and JOHN PISACRETA, individually,        )
                                              )
     Plaintiffs,                              )    Class Action
     v.                                       )    (Hull/Inman)
                                              )
     INFINITY INVESTORS LIMITED,              )
     FAIRWAY CAPITAL LIMITED,                 )
     LAKE MANAGEMENT, LDC, LAUREL             )
     ANGELA MACDONALD, SEACREST               )
     CAPITAL LIMITED and CLARK K. HUNT,       )
                                              )
     Defendants.                              )
 
           SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, OF HEARING ON
          PROPOSED SETTLEMENT THEREOF, AND SETTLEMENT HEARING THEREON
 
     TO:   ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE
           COMMON STOCK OF UNITED PETROLEUM CORPORATION ("UPET") DUR ING THE
           PERIOD OF MAY 1, 1996 THROUGH AND INCLUDING JANUARY 16, 1997 (THE
           "CLASS," THE "CLASS PERIOD"), EXCLUD ING THE DEFENDANTS HEREIN,
           THEIR IMMEDIATE FAMILY MEMBERS AND ENTITIES IN WHICH ANY DEFENDANT
           HAS A CONTROLLING INTEREST.
 
     PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.  THIS NOTICE
     CONCERNS THE PENDENCY AND PROPOSED SETTLEMENT OF THE ABOVE CLASS ACTION.
     YOUR RIGHTS MAY BE AFFECTED BY LEGAL PROCEEDINGS IN THIS ACTION.  IF YOU
     ARE A MEMBER OF THE CLASS, YOU MAY BE ENTITLED TO RECEIVE PAYMENTS
     PURSUANT TO THE PROPOSED SETTLEMENT DESCRIBED HEREIN.  CLASS MEMBERS WHO
     WISH TO SHARE IN THE SETTLEMENT FUND MUST TIMELY SUBMIT A PROOF OF CLAIM
     AND RELEASE ("PROOF OF CLAIM").
 
         YOU ARE HEREBY NOTIFIED pursuant to Rule 23 of the Federal Rules of
     Civil Procedure and an Order of the District Court that a hearing will be
     held on May 21, 2001, at 1:30 p.m. in the United States District Court for
     the Eastern District of Tennessee, 101 Summer Street West, Greeneville,
     Tennessee, in the Courtroom of the Honorable Thomas G. Hull.  The purpose
     of the hearing shall be: (1) to determine whether the proposed settlement
     of the above-referenced class action should be approved by the Court as
     fair, reasonable and adequate; (2) to determine whether judgments should
     be entered dismissing the Action as to the Settling Defendants and
     Defendant Clark K. Hunt on the merits and with prejudice; and (3) to pass
     on the reasonableness of the application of Class Plaintiffs' Counsel for
     the payment of attorneys' fees and expenses.
         If you acquired UPET common stock during the Class Period, you may be
     a member of the Class and, if so, your rights may be affected by this
     litigation and the partial settlement of the Action.  To share in the
     Settlement Fund, you must file a Proof of Claim and Release Form on or
     before August 21, 2001 establishing that you are entitled to recovery for
     any losses you suffered.  IF YOU DO NOT FILE A PROPER PROOF OF CLAIM AND
     HAVE NOT EXCLUDED YOURSELF FROM THE CLASS, YOU WILL NOT SHARE IN THE
     SETTLEMENT FUND, BUT YOU WILL BE BOUND BY THE FINAL JUDGMENT OF THE COURT.
         The proposed partial settlement of this Action and requirements
     pertaining to submission of a Proof of Claim are described fully in the
     printed Notice of Pendency of Class Action, Proposed Settlement of Class
     Action, Settlement Hearing, and Requirement of Submitting Proof of Claim
     and Release (the "Class Notice") and Proof of Claim form, which has been
     mailed to all members of the Class who could be identified through
     reasonable efforts.  If you are a member of the Class and desire
     additional information, or have not received a copy of the printed Class
     Notice and Proof of Claim form, you may obtain such information by writing
     to:
 
                            Settlement Administrator
               United Petroleum Corporation Securities Litigation
                                 P.O. Box 9014
                             Jericho, NY 11753-8914
                              Fax:  (516) 931-0810
                        Website:  www.dberdon.com/claims
 
     The Co-Lead Counsel for Plaintiffs are:
 
     GILMAN AND PASTOR, LLP              SIROTA & SIROTA LLP
     Stonehill Corporate Center          110 Wall Street
     999 Broadway, Suite 500             New York, New York 10017
     Saugus, MA 01906
 
     PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE FOR INFORMATION.
 
     Dated:     March 20, 2001                UNITED STATES DISTRICT COURT
                                              EASTERN DISTRICT OF TENNESSEE
 
 

SOURCE Gilman and Pastor, LLP
    BOSTON, April 12 /PRNewswire/ -- Gilman and Pastor, LLP and Sirota &
 Sirota have announced the following today for Civil Action No. 3:97-CV-226:
 
 
    UNITED STATES DISTRICT COURT EASTERN DISTRICT OF TENNESSEE AT KNOXVILLE
 
     JAMES M. LYNN, individually and on       )
     behalf of all others similarly situated, )    Civil Action No. 3:97-CV-226
     and JOHN PISACRETA, individually,        )
                                              )
     Plaintiffs,                              )    Class Action
     v.                                       )    (Hull/Inman)
                                              )
     INFINITY INVESTORS LIMITED,              )
     FAIRWAY CAPITAL LIMITED,                 )
     LAKE MANAGEMENT, LDC, LAUREL             )
     ANGELA MACDONALD, SEACREST               )
     CAPITAL LIMITED and CLARK K. HUNT,       )
                                              )
     Defendants.                              )
 
           SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, OF HEARING ON
          PROPOSED SETTLEMENT THEREOF, AND SETTLEMENT HEARING THEREON
 
     TO:   ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE
           COMMON STOCK OF UNITED PETROLEUM CORPORATION ("UPET") DUR ING THE
           PERIOD OF MAY 1, 1996 THROUGH AND INCLUDING JANUARY 16, 1997 (THE
           "CLASS," THE "CLASS PERIOD"), EXCLUD ING THE DEFENDANTS HEREIN,
           THEIR IMMEDIATE FAMILY MEMBERS AND ENTITIES IN WHICH ANY DEFENDANT
           HAS A CONTROLLING INTEREST.
 
     PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.  THIS NOTICE
     CONCERNS THE PENDENCY AND PROPOSED SETTLEMENT OF THE ABOVE CLASS ACTION.
     YOUR RIGHTS MAY BE AFFECTED BY LEGAL PROCEEDINGS IN THIS ACTION.  IF YOU
     ARE A MEMBER OF THE CLASS, YOU MAY BE ENTITLED TO RECEIVE PAYMENTS
     PURSUANT TO THE PROPOSED SETTLEMENT DESCRIBED HEREIN.  CLASS MEMBERS WHO
     WISH TO SHARE IN THE SETTLEMENT FUND MUST TIMELY SUBMIT A PROOF OF CLAIM
     AND RELEASE ("PROOF OF CLAIM").
 
         YOU ARE HEREBY NOTIFIED pursuant to Rule 23 of the Federal Rules of
     Civil Procedure and an Order of the District Court that a hearing will be
     held on May 21, 2001, at 1:30 p.m. in the United States District Court for
     the Eastern District of Tennessee, 101 Summer Street West, Greeneville,
     Tennessee, in the Courtroom of the Honorable Thomas G. Hull.  The purpose
     of the hearing shall be: (1) to determine whether the proposed settlement
     of the above-referenced class action should be approved by the Court as
     fair, reasonable and adequate; (2) to determine whether judgments should
     be entered dismissing the Action as to the Settling Defendants and
     Defendant Clark K. Hunt on the merits and with prejudice; and (3) to pass
     on the reasonableness of the application of Class Plaintiffs' Counsel for
     the payment of attorneys' fees and expenses.
         If you acquired UPET common stock during the Class Period, you may be
     a member of the Class and, if so, your rights may be affected by this
     litigation and the partial settlement of the Action.  To share in the
     Settlement Fund, you must file a Proof of Claim and Release Form on or
     before August 21, 2001 establishing that you are entitled to recovery for
     any losses you suffered.  IF YOU DO NOT FILE A PROPER PROOF OF CLAIM AND
     HAVE NOT EXCLUDED YOURSELF FROM THE CLASS, YOU WILL NOT SHARE IN THE
     SETTLEMENT FUND, BUT YOU WILL BE BOUND BY THE FINAL JUDGMENT OF THE COURT.
         The proposed partial settlement of this Action and requirements
     pertaining to submission of a Proof of Claim are described fully in the
     printed Notice of Pendency of Class Action, Proposed Settlement of Class
     Action, Settlement Hearing, and Requirement of Submitting Proof of Claim
     and Release (the "Class Notice") and Proof of Claim form, which has been
     mailed to all members of the Class who could be identified through
     reasonable efforts.  If you are a member of the Class and desire
     additional information, or have not received a copy of the printed Class
     Notice and Proof of Claim form, you may obtain such information by writing
     to:
 
                            Settlement Administrator
               United Petroleum Corporation Securities Litigation
                                 P.O. Box 9014
                             Jericho, NY 11753-8914
                              Fax:  (516) 931-0810
                        Website:  www.dberdon.com/claims
 
     The Co-Lead Counsel for Plaintiffs are:
 
     GILMAN AND PASTOR, LLP              SIROTA & SIROTA LLP
     Stonehill Corporate Center          110 Wall Street
     999 Broadway, Suite 500             New York, New York 10017
     Saugus, MA 01906
 
     PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE FOR INFORMATION.
 
     Dated:     March 20, 2001                UNITED STATES DISTRICT COURT
                                              EASTERN DISTRICT OF TENNESSEE
 
 SOURCE  Gilman and Pastor, LLP