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To All Persons Who Purchased the Common Stock of Aviation Distributors Inc. — 'Aviation' or the 'Company' — During the Period March 3, 1997 through Sept. 3, 1997 — the 'Class Period' —
Business Wire, Oct 23, 1997
NEW YORK--(BUSINESS WIRE)--Oct. 23, 1997--On Oct. 21, 1997, a complaint (the "Complaint") entitled Sharon Tate v. Aviation Distributors Inc. et al. was filed in the United States District Court for the Central District of California as a class action on behalf of all purchasers of Aviation common stock during the period March 3, 1997 through Sept. 3, 1997.
On March 3, 1997, Aviation offered and sold through an initial public offering (the "IPO") 1.2 million shares which traded on the NASDAQ National Market System until delisted on Oct. 5, 1997. The underwriter was Cruttenden Roth Inc.
The Complaint alleges that, during the Class Period, Aviation, its directors, underwriter and accountant involved in the IPO violated the federal securities laws, including Sections 11 and 12 of the Securities Act of 1933 by misrepresenting and/or omitting material information concerning Aviation's financial results.
On Sept. 3, 1997, Aviation announced that its auditors had withdrawn its reports on the company's financial statements for the 1994, 1995 and 1996 fiscal years, and the period ended June 30, 1997. Plaintiff seeks to recover losses suffered by investors who purchased Aviation common stock during the Class Period.
If you lost money from an investment in Aviation stock and desire more information regarding your rights or the lawsuit described above, please contact the following attorneys for plaintiff:
GOODKIND LABATON RUDOFF HANZMAN CRIDEN KORGE
& SUCHAROW LLP & CHAYKIN, P.A.
Jonathan M. Plasse, Esq. Michael E. Criden, Esq.
Emily C. Komlossy, Esq. First Union Financial Center
100 Park Avenue Suite 2100
New York, NY 10017 200 South Biscayne Boulevard
212/907-0700 Miami, Fla. 33131
305/579-1222
Any member of the proposed Class may move the Court to serve as lead plaintiff no later Dec. 8, 1997.
CONTACT: Goodkind Labaton Rudoff & Sucharow LLP
Jonathan M. Plasse, Esq.
Emily C. Komlossy, Esq., 212/907-0700
or
Hanzman Criden Korge & Chaykin, P.A.
Michael E. Criden, Esq., 305/579-1222
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