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You may be able to join a class action lawsuit on behalf of all purchasers of Computer Learning Centers, Inc. (NASDAQ: CLCX) ("CLCX" or the "Company") securities from April 30, 1997 through March 10, 1998 inclusive (the "Class Period") seeking to pursue remedies under the Securities Exchange Act of 1934, was filed on March 13, 1998 in the United States District Court for the Central District of California.
The class action Complaint alleges a fraudulent scheme and deceptive course of conduct by CLCX and certain of its officers and/or directors who disseminated materially misleading statements. Specifically, the Company failed to disclose the serious operational problems facing it, including the CLCX's inability to adequately staff its rapidly expanding number of educational centers with qualified instructors and to provide its mushrooming student enrollment with the latest technology. By concealing these adverse facts, the Company was able to maintain artificially inflated prices in the market for CLCX's common stock and issue additional shares of stock. Additionally, several CLCX insiders were able to reap significant profits by trading their shares of CLCX stock while in possession of this material adverse information. As a result, purchasers of CLCX stock during the Class Period were injured.
Plaintiff seeks to recover monetary damages on behalf of class members and is represented by, among others, the law firms of Garwin, Bronzaft, Gerstein & Fisher, L.L.P.(gbgf@aol.com), and the Law Offices of Lionel Z. Glancy, Esq. (lglancy@aol.com) all of whom have significant experience in litigating class actions on behalf of investors and shareholders.
Any member of the proposed class who desires to be appointed lead plaintiff in this action must file a motion with the court by May 11, 1998. If you have questions or information regarding this action, or if you are interested in serving as a lead plaintiff in this action, you may call or write:
Barry S. Taus, Esq. Lionel Z. Glancy, Esq. Brett Cebulash, Esq. Law Offices of Lionel Z. Glancy Garwin, Bronzaft, Gerstein 1801 Avenue of the Stars, Suite 308
& Fisher, L.L.P. Los Angeles, CA 90067 1501 Broadway, Suite 1416 Tel: (310) 201-9150 New York, NY 10036 Fax: (310) 201-9160 Tel.: (800) 898-2832 E-mail:mailto:lglancy@aol.com
(212) 398-0055 Fax: (212) 764-6620 E-mail: gbgf@aol.com
CONTACT:
Garwin, Bronzaft, Gerstein& Fisher, L.L.P.,Barry S. Taus, Esq., Brett Cebulash, Esq. Tel: (800) 898-2832
or
Law Offices of Lionel Z. Glancy, Lionel Z. Glancy, Esq. Tel: (310) 201-9150
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