Lawyers Target HOMS

January 10, 2002

10 Law Firms Now Representing Shareholders In Likely Class Action


Inman News Features

The list of law firms involved in class action shareholder lawsuits against Homestore.com has been growing longer since the initial filing was announced at the end of last month.

Now on the list of plaintiffs representatives are Bernstein Liebhard & Lifshitz, Wechsler Harwood Halebian & Feffer, Faruqu & Faruqu and Abbey Gardy in New York, Schiffrin & Barroway in Bala Cynwyd, Pa., Cauley Geller Bowman & Coates in Little Rock, Ark., Berger & Montague in Philadelphia, Pa., Weiss & Yourman in Los Angeles, Milberg Weiss Bershad Hynes & Lerach in San Diego and Levy and Levy in Stamford, Conn.

The class action was commenced in the U.S. District Court for the Central District of California on behalf of people who purchased Homestore common stock between July 20, 2000, and December 21, 2001.

The complaint alleges that Homestore and certain of its former officers and directors made false and misleading statements that misrepresented the company?s business and financial condition and caused its stock price to increase before those individuals sold their shares, then decrease when the company announced its revenues for certain prior periods had been overstated due to improper accounting for advertising revenues.

Copyright: Inman News Service