HARTFORD, Conn., Jan. 21 2005 – LAWFUEL – The Law News Network – The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Western District of Pennsylvania on behalf of all persons who purchased the publicly traded securities of IT Group, Inc. (Pink Sheets: ITXG.PK – News; “IT Group”) between October 21, 1998 and February 23, 2000 (the “Class Period”).
The Complaint alleges that IT Group violated federal securities laws by issuing false or misleading public statements. Specifically, the Complaint alleges that IT Group made material misrepresentations and omissions regarding its financial performance in press releases and through filings made with the Securities and Exchange Commission.
If you are a member of the class, you may, no later than March 21, 2005, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at [email protected] To view a copy of the lawsuit initiating the class action, or for more information about class action cases and Schatz & Nobel, please visit our website: http://www.snlaw.net.