Bennett Environmental Inc. Misled Investors, Berger & Montague Alleges
13 August 2004 - 2:24AM
PR Newswire (US)
Bennett Environmental Inc. Misled Investors, Berger & Montague
Alleges PHILADELPHIA, Aug. 12 /PRNewswire/ -- On August 10, 2004,
the law firm of Berger & Montague, P.C.
(http://www.bergermontague.com/) filed a class action suit against
Bennett Environmental Inc. ("Bennett" or the "Company") (AMEX:BEL)
(TSE:BEL) and certain of its officers, in the United States
District Court for the Southern District of New York on behalf of
all persons or entities who purchased Bennett common stock from
June 2, 2003 through July 21, 2004 (the "Class Period"). The
Complaint alleges that defendants violated Sections 10(b) and 20(a)
of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder by the SEC by issuing materially false and misleading
statements throughout the Class Period that had the effect of
artificially inflating the market price of the Company's common
stock. Some of Bennett's officers sold their personal holdings of
Bennett stock at the inflated prices. Bennett is in the hazardous
waste remediation business. The Complaint alleges that beginning in
June 2003, Bennett misled investors about a purported $200 million
(CDN) contract it had been awarded by the United States government.
In July 2004, the Company revealed that the contract would be worth
significantly less than $200 million, and had been in dispute
shortly after it had been awarded. This revelation caused Bennett
stock to lose 40% of its value in one week. If you purchased
Bennett common stock during the period from June 2, 2003 through
July 21, 2004, inclusive, you may, no later than September 27,
2004, move to be appointed as a Lead Plaintiff. A Lead Plaintiff is
a representative party that acts on behalf of other class members
in directing the litigation. If you have sustained substantial
losses in Bennett common stock during the Class Period, please
contact Berger & Montague, P.C. for a more thorough explanation
of the Lead Plaintiff selection process. The law firm of Berger
& Montague, P.C. has over 50 attorneys, all of whom represent
plaintiffs in complex litigation. The Berger firm has extensive
experience representing plaintiffs in class action securities
litigation and has played lead roles in major cases over the past
25 years which have resulted in recoveries of several billion
dollars to investors. The firm has served as lead counsel in many
securities fraud actions, including actions on behalf of
shareholders of waste disposal companies Waste Management, Inc.,
and Safety-Kleen. The firm has also represented investors as lead
counsel in actions against companies including Rite Aid, Sotheby's,
Sunbeam, Boston Chicken and IKON Office Solutions, Inc. The
standing of Berger & Montague, P.C. in successfully conducting
major securities and antitrust litigation has been recognized by
numerous courts. For example: "Class counsel did a remarkable job
in representing the class interests." In Re: IKON Office Solutions
Securities Litigation. Civil Action No. 98-4286 (E.D. Pa.) (partial
settlement for $111 million approved May, 2000). "...[Y]ou have
acted the way lawyers at their best ought to act. And I have had a
lot of cases...in 15 years now as a judge and I cannot recall a
significant case where I felt people were better represented than
they are here ... I would say this has been the best representation
that I have seen." In Re: Waste Management, Inc. Securities
Litigation, Civil Action No. 97-C 7709 (N.D. Ill.) (settled in 1999
for $220 million). If you purchased Bennett common stock during the
Class Period, please visit our website at
http://www.bergermontague.com/ to view the complaint and join the
class action or if you have any questions concerning this notice or
your rights with respect to this matter, please contact: Sherrie R.
Savett, Esquire Arthur Stock, Esquire Diane Werwinski, Investor
Relations Manager Berger & Montague, P.C. 1622 Locust Street
Philadelphia, PA 19103 Phone: 888-891-2289 or 215-875-3000 Fax:
215-875-5715 Website: http://www.bergermontague.com/ e-mail:
DATASOURCE: Berger & Montague, P.C. CONTACT: Sherrie R. Savett,
Esquire, or Arthur Stock, Esquire, or Diane Werwinski, Investor
Relations Manager, Berger & Montague, +1-888-891-2289 or
+1-215-875-3000, or Fax: +1-215-875-5715, or Web site:
http://www.bergermontague.com/
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