Spector, Roseman & Kodroff, P.C. Announces the Filing of a Class Action Suit
Against Adecco S.A.
PHILADELPHIA, Feb. 24 /PRNewswire/ -- The law firm of Spector, Roseman &
Kodroff, P.C. announces that a securities class action lawsuit was commenced in
the United States District Court for the Eastern District of New York, against
Adecco S.A. ("Adecco" or the "Company") and certain of its officers and
directors on behalf of purchasers of its publicly traded securities between
March 16, 2000 through January 12, 2004, inclusive (the "Class Period").
The Complaint alleges that during the Class Period, defendants violated the
federal securities laws by issuing materially false and misleading financial
information contained in Adecco's public filings, press releases and other
public statements. The Complaint alleges that the Company's revenues and
earnings were artificially inflated due to improper accounting practices. On
January 12, 2004, Adecco announced the delay in the completion of an audit of
the Company's 2003 financial results. The Company's press release disclosed
that the delay was the result of "material weaknesses in internal controls in
the Company's North American operations of Adecco Staffing" and "possible
accounting, control andcompliance issues in the Company's operations in certain
countries." As a result of this disclosure, the Company's stock price dropped
more than 30%.
If you purchased Adecco securities during the Class Period, you may, no later
than March 16, 2004, 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 Adecco securities during the Class
Period, please contact Spector, Roseman & Kodroff, P.C., at 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 join this action, please visit
http://www.srk-law.com/dbjoinaclassaction.asp. 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 . For more detailed information about the firm please visit its
website at http://www.srk-law.com/.
Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania,
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 resultof 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. DATASOURCE: Spector, Roseman & Kodroff, P.C.
CONTACT: Robert M. Roseman, Spector, Roseman & Kodroff, P.C., +1-888-844-5862 Web site: http://www.srk-law.com/dbjoinaclassaction.asp http://www.srk-law.com/
|