Wolf Haldenstein Adler Freeman and Herz LLP Commences Class Action Lawsuit on Behalf of Alliance Gaming Corporation Shareholders
June 30 2004 - 7:48PM
PR Newswire (US)
Wolf Haldenstein Adler Freeman and Herz LLP Commences Class Action
Lawsuit on Behalf of Alliance Gaming Corporation Shareholders NEW
YORK, June 30 /PRNewswire/ -- Wolf Haldenstein Adler Freeman &
Herz LLP filed a class action lawsuit in the United States District
Court for the District of Nevada, on behalf of all persons who
purchased the securities of Alliance Gaming Corporation ("Alliance
Gaming" or the "Company") (NYSE:AGI) between January 15, 2004 and
June 7, 2004, inclusive, (the "Class Period") against defendants
Alliance Gaming and certain officers and directors of the Company.
The case name is Houldin v. Alliance Gaming Corporation, et al. A
copy of the complaint filed in this action is available from the
Court, or can be viewed on the Wolf Haldenstein Adler Freeman &
Herz LLP website at http://www.whafh.com/cases/alliancegaming.htm.
The complaint alleges that defendants violated the federal
securities laws 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
securities. The complaint alleges that during the Class Period,
defendants caused Alliance Gaming's shares to trade at artificially
inflated levels through the issuance of false and misleading
statements. The defendants' wrongful course of business (i)
artificially inflated the prices of Alliance Gaming's securities
during the Class Period by making grossly inflated projections
while knowing these projections were unachievable; (ii) deceived
the investing public, including plaintiff and other Class members,
into acquiring Alliance Gaming's securities at artificially
inflated prices; (iii) allowed the Company to consummate
stock-for-stock acquisitions with inflated stock valued at $16
million; and (iv) allowed certain defendants to sell $3.6 million
worth of their own shares at artificially inflated prices. As a
result, the Company's shares traded as high as $34 during the Class
Period. If you purchased Alliance Gaming securities during the
Class Period, you may request that the Court appoint you as lead
plaintiff by August 16, 2004. A lead plaintiff is a representative
party that acts on behalf of other class members in directing the
litigation. In order to be appointed lead plaintiff, the Court must
determine that the class member's claim is typical of the claims of
other class members, and that the class member will adequately
represent the class. Under certain circumstances, one or more class
members may together serve as "lead plaintiff." Your ability to
share in any recovery is not, however, affected by the decision
whether or not to serve as a lead plaintiff. You may retain Wolf
Haldenstein, or other counsel of your choice, to serve as your
counsel in this action. Wolf Haldenstein has extensive experience
in the prosecution of securities class actions and derivative
litigation in state and federal trial and appellate courts across
the country. The firm has approximately 60 attorneys in various
practice areas; and offices in Chicago, New York City, San Diego,
and West Palm Beach. The reputation and expertise of this firm in
shareholder and other class litigation has been repeatedly
recognized by the courts, which have appointed it to major
positions in complex securities multi-district and consolidated
litigation. If you wish to discuss this action or have any
questions, please contact Wolf Haldenstein Adler Freeman & Herz
LLP at 270 Madison Avenue, New York, New York 10016, by telephone
at (800) 575-0735 (Fred Taylor Isquith, Esq., Gregory M. Nespole,
Esq., George Peters, or Derek Behnke), via e-mail at or visit our
website at http://www.whafh.com/. All e-mail correspondence should
make reference to Alliance Gaming. DATASOURCE: Wolf Haldenstein
Adler Freeman & Herz LLP CONTACT: Fred Taylor Isquith, Esq., or
Gregory M. Nespole, Esq., or George Peters, or Derek Behnke, all of
Wolf Haldenstein Adler Freeman & Herz LLP, 1-800-575-0735, Web
site: http://www.whafh.com/
http://www.whafh.com/cases/alliancegaming.htm
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