Spector, Roseman & Kodroff, P.C. Files Class Action Suit Against Winstar Communications, Inc.

Apr 13, 2001, 01:00 ET from Spector, Roseman & Kodroff, P.C.

    PHILADELPHIA, April 13 /PRNewswire/ -- The law firm of Spector, Roseman &
 Kodroff, P.C. announces that a class action lawsuit has been commenced in the
 United States District Court for the Southern District of New York against
 defendants Winstar Communications, Inc. ("Winstar" or the "Company")
 (Nasdaq:   WCII), William J. Rouhana, Jr. - Chief Executive Officer and Chairman
 of the Board of Directors, Richard J. Uhl - Chief Financial Officer, and
 Nathan Kantor - President and Chief Operating Officer, on behalf of purchasers
 of the stock of Winstar during the period from August 2, 2000 through April 2,
 2001, inclusive (the "Class Period").
     The complaint alleges that the defendants made material misrepresentations
 and omissions of material facts concerning the company's business performance
 during the relevant time.  According to the complaint, throughout the relevant
 time period defendants repeatedly assured investors that the company was
 performing well, that the company was enjoying strong growth, and that it was
 well-funded to follow its growth-oriented business plan through the first
 quarter of 2002.  At the same time, however, the complaint alleges that the
 defendants knew or recklessly disregarded that Winstar was overstating
 revenues and assets.  In April 2001, contrary to prior representations,
 Winstar announced that it was halting its expansion and laying off thousands
 of employees.  The company has delayed the filing of its annual Report on Form
 10-K with the SEC and its stock price has collapsed.
     If you purchased Winstar securities during the Class Period, you may, no
 later than June 11, 2001, 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 Winstar securities during the Class Period, please
 contact Spector, Roseman & Kodroff, P.C. at classaction@spectorandroseman.com
 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 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
 classaction@spectorandroseman.com.  For more detailed information about the
 firm please visit its website at http://www.spectorandroseman.com.
     Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania
 and San Diego, California, 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 result of 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.
 
 

SOURCE Spector, Roseman & Kodroff, P.C.
    PHILADELPHIA, April 13 /PRNewswire/ -- The law firm of Spector, Roseman &
 Kodroff, P.C. announces that a class action lawsuit has been commenced in the
 United States District Court for the Southern District of New York against
 defendants Winstar Communications, Inc. ("Winstar" or the "Company")
 (Nasdaq:   WCII), William J. Rouhana, Jr. - Chief Executive Officer and Chairman
 of the Board of Directors, Richard J. Uhl - Chief Financial Officer, and
 Nathan Kantor - President and Chief Operating Officer, on behalf of purchasers
 of the stock of Winstar during the period from August 2, 2000 through April 2,
 2001, inclusive (the "Class Period").
     The complaint alleges that the defendants made material misrepresentations
 and omissions of material facts concerning the company's business performance
 during the relevant time.  According to the complaint, throughout the relevant
 time period defendants repeatedly assured investors that the company was
 performing well, that the company was enjoying strong growth, and that it was
 well-funded to follow its growth-oriented business plan through the first
 quarter of 2002.  At the same time, however, the complaint alleges that the
 defendants knew or recklessly disregarded that Winstar was overstating
 revenues and assets.  In April 2001, contrary to prior representations,
 Winstar announced that it was halting its expansion and laying off thousands
 of employees.  The company has delayed the filing of its annual Report on Form
 10-K with the SEC and its stock price has collapsed.
     If you purchased Winstar securities during the Class Period, you may, no
 later than June 11, 2001, 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 Winstar securities during the Class Period, please
 contact Spector, Roseman & Kodroff, P.C. at classaction@spectorandroseman.com
 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 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
 classaction@spectorandroseman.com.  For more detailed information about the
 firm please visit its website at http://www.spectorandroseman.com.
     Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania
 and San Diego, California, 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 result of 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.
 
 SOURCE  Spector, Roseman & Kodroff, P.C.