Spector & Roseman, P.C. Announces Update On Class Action Suit Against Revlon, Inc.; Revlon Reports Third Quarter Results, Class Action Lawsuit Continues

Business Wire, Nov 17, 1999

PHILADELPHIA--(BUSINESS WIRE)--Nov. 16, 1999--

Spector & Roseman, P.C. announced that its Class Action lawsuit against Revlon, Inc. (NYSE:REV) and certain of its officers and directors will continue, as Revlon announced its third quarter results yesterday.

The class action lawsuit, brought on behalf of all persons or entities who purchased or otherwise acquired the common stock of Revlon, Inc. between October 29, 1997 and October 2, 1998, inclusive (the "Class Period"), charges Revlon, Inc. and certain of its top officers and directors with violations of the securities laws and regulations of the United States. The Complaint alleges, among other things, that defendants defrauded the investing public by recognizing revenue in violation of Generally Accepted Accounting Principles ("GAAP"). In addition, the Complaint charges that the defendants deliberately shipped excessive amounts of Revlon products and improperly recognized revenues on such shipments.

If you purchased or acquired Revlon stock between October 29, 1997 and October 2, 1998, inclusive, you may wish to join the action. You may move the Court to serve as a lead plaintiff no later than 60 days from October 4, 1999. In order to serve as a lead plaintiff, you must meet certain legal requirements.

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 our website at http://www.spectorandroseman.com.

SPECTOR & ROSEMAN, 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. 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