Wolf Haldenstein Adler Freeman and Herz LLP Commences Class Action Lawsuit on Behalf of Star Gas Partners, L.P. Shareholders
October 27 2004 - 4:47PM
PR Newswire (US)
Wolf Haldenstein Adler Freeman and Herz LLP Commences Class Action
Lawsuit on Behalf of Star Gas Partners, L.P. Shareholders NEW YORK,
Oct. 27 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz
LLP filed a class action lawsuit in the United States District
Court for the District of Connecticut, on behalf of all persons who
purchased the securities of Star Gas Partners, L.P. ("Star Gas" or
the "Company") (NYSE: SGU; SGH) between July 25, 2000 and October
18, 2004, inclusive, (the "Class Period") against defendants Star
Gas and certain officers and directors of the Company. The case
name is Strunk v. Star Gas Partners, L.P., 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/stargas.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 further
alleges that statements made by defendants during the class period
were materially false and misleading when made because they failed
to disclose and/or misrepresented the following adverse facts,
among others: (a) that the Company's attrition rates remained
abnormally high throughout the Class Period; (b) that the Company
did not have the necessary infrastructure to deal with the
increased customers from its numerous acquisitions; (c) that the
Company was experiencing massive delays in the centralization of
its dispatch system which caused its customers to flee to
competitors; (d) that the Company's Petro heating oil division's
business process improvement program was not an improvement and was
not generating the benefits claimed by defendants; (e) that as a
result of (a)�(d), defendants were facing imminent bankruptcy and
would no longer be able to service the Company's debt, all of which
would halt the Company's ability to maintain the Company's credit
rating and/or obtain future financing. If you purchased Star Gas
securities during the Class Period, you may request that the Court
appoint you as lead plaintiff by December 20, 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., Gustavo Bruckner, 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 Star Gas. DATASOURCE: Wolf
Haldenstein Adler Freeman & Herz LLP CONTACT: Fred Taylor
Isquith, Esq., Gustavo Bruckner, Esq., 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/stargas.htm
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