DONOVAN SEARLES, LLC.
1845 Walnut Street, Suite 1100, Philadelphia, PA 19103
ph: 215-732-6067 fax: 215-732-8060
email mdonovan@donovansearles.com
Securities Class Action filed on behalf of World Access
Stock Purchasers by Donovan Searles, LLC
Philadelphia, February 3, 1999 - A class action lawsuit was filed in the United
States District Court for the Northern District of Georgia on
behalf of securities purchasers
of World Access, Inc. (NASDAQ - WAXS). The lawsuit was filed by the law firm of
Donovan Searles, LLC on behalf of three groups of persons: (1) those who purchased
World Access securities in the open market during the period October 7, 1998, through
January 5, 1999; (2) those who exchanged securities issued by Telco Systems Inc.
for World Access securities in the recent merger of those two companies; and (3)
those who exchanged securities issued by NACT Telecommunications Inc. for World
Access securities in the recent merger of those two companies.
The Complaint charges that defendants violated the U.S. securities laws by issuing
materially false and misleading statements and by omitting to disclose material
facts required to be disclosed, in order to make the statements issued not
materially false and misleading throughout the Class Period and in World Access's
public filings related to the Telco and NACT mergers.
If you are a member of the class described above, you may move the court to serve
as lead plaintiff if you meet certain requirements of the law. 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.
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