Replies to post #406 on Infotopia (fka IFTA)

[thepennyking]

Goodkind Labaton Files Class Action Lawsuit against PriceSmart, Inc.

NEW YORK (BUSINESS WIRE) – December 9, 2003 - Goodkind Labaton Rudoff & Sucharow LLP filed a class action lawsuit on December 9, 2003 in the United States District Court for the Southern District of California, on behalf of persons who purchased or otherwise acquired publicly traded securities of PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT) between December 20, 2001 and November 17, 2003, inclusive, (the "Class Period"). The lawsuit was filed against PriceSmart and certain officers and directors.

If you are a member of this class you can view a copy of the complaint and join this class action online.

The complaint alleges that Defendants, during the Class Period, disseminated or approved false statements about the business and its prospects, which they knew or recklessly disregarded were materially false and misleading. On November 10, 2003, PriceSmart admitted that it inappropriately recorded transactions included in its 2002 to 2003 results, and will have to restate those results to remove millions of improperly reported revenues. In reaction to the news, shares of PriceSmart reacted negatively, falling to $6 per share, from a class period high of $42 per share.

Plaintiffs are represented by the law firm of Goodkind Labaton Rudoff & Sucharow LLP of New York, New York and Ft. Lauderdale, Florida. Goodkind Labaton is a pioneer in the field of investor protection, with forty years experience litigating securities class actions in courts throughout the country. Goodkind Labaton has over 50 attorneys in two offices and maintains an in-house staff of finance and accounting specialists. Goodkind Labaton also has extensive trial experience and, most recently, concluded a class action trial resulting in a landmark $185 million verdict for the plaintiff class.

If you bought PriceSmart securities between December 20, 2001 and November 17, 2003, inclusive, you may qualify to serve as Lead Plaintiff. Lead Plaintiff papers must be filed with the court no later than January 16, 2004. If you would like to consider serving as lead plaintiff or have any questions about the lawsuit, please contact one of our representatives at [e-mail] or Christopher Keller, Esq. at 800-321-0476.


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CONTACTS

Jonathan M. Plasse
Attorney
Goodkind Labaton Rudoff & Sucharow LLP
100 Park Avenue
12th Floor
NewYork, NY 10017-5563
[e-mail]
[phone]
[phone] fax


Christopher J. Keller
Attorney
Goodkind Labaton Rudoff & Sucharow LLP
100 Park Avenue
12th Floor
NewYork, NY 10017-5563
[e-mail]
[phone]
[phone] fax