DONOVAN SEARLES, LLC.Donovan Searles, LLC Announces Securities Class Action Filed Against JDN Realty Corporation
PHILADELPHIA--(BUSINESS WIRE)--Feb. 28, 2000--The law firm of Donovan Searles, LLC, announced today that a class action lawsuit was filed in the United States District Court for the Northern District of Georgia, Atlanta Division against JDN Realty Corporation (``JDN'') (NYSE-JDN-news), and certain of its Officers and Directors, on behalf of all persons who purchased JDN securities between March 31, 1997 and February 11, 2000, inclusive (the ``Class Period'').
The plaintiff in the case is a stock purchaser who is alleged to have sustained losses as a result of defendants' alleged violations.
The Complaint alleges that, during the Class Period, JDN and the five officer defendants (collectively, the ``Defendants'') violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, issuing materially false and misleading statements to the investing public which concealed the fact that certain real estate transactions, including undisclosed compensation arrangements and related party transactions were not accurately recorded in the Company's accounting records or disclosed in the Company's audited financial statements.
The Complaint further alleges that the price of JDN's shares was artificially inflated as a result of Defendants' omissions of material fact. Plaintiff is represented by the law firm of Donovan Searles, LLC and others. The members of Donovan Searles, LLC have significant experience in litigating class actions on behalf of investors, shareholders and consumers.
If you are a member of the class described above, you may move the court to serve as lead plaintiff not later than April 14, 2000. If you wish to discuss this action, or have any questions concerning your rights, please contact Michael D. Donovan at Donovan Searles, LLC, 1845 Walnut Street, Suite 1100, Philadelphia, PA 19103; phone: 800/619-1677 or 215/732-6067; e-mail: mdonovan@donovansearles.com or by clicking here
