HARTFORD, Conn., July 11 – LAWFUEL – The Law News Network – The …

HARTFORD, Conn., July 11 – 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 District of
Colorado on behalf of all persons who purchased the common stock of StarTek,
Inc (NYSE: SRT) (“StarTek” or the “Company”) between February 26, 2003 and May
5, 2005, inclusive (the “Class Period”).

The Complaint alleges that StarTek, a provider of business process
outsourced services, and certain of its officers and directors, violated
federal securities laws. Specifically, defendants issued false statements
concerning strong existing demand for StarTek’s outsourced services from four
of the Company’s customers that accounted for 90% of StarTek’s revenue, the
Company’s healthy sales pipeline and the completion of a management transition
and restructuring plan, which artificially inflated StarTek’s stock price
during the Class Period.

On May 6, 2005, StarTek announced that its first quarter 2005 “earnings
per share from continuing operations decreased…to $0.18 compared to $0.49
for the first quarter of 2004.” StarTek also announced that its revenues
declined 14.2% from the same period in 2004. On this news, StarTek’s stock
price fell over 18% from a close of $15.20 on May 5, 2005 to $12.40 on May 6,

If you are a member of the class, you may, no later than September 6,
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

While Schatz & Nobel has not filed a complaint, to view a copy of the
Complaint initiating the class action or for more information about the case,
class action cases in general, and your rights, please contact Schatz & Nobel
toll-free at (800) 797-5499, or by e-mail at [email protected], or visit our
website: http://www.snlaw.net.

CONTACT: Wayne T. Boulton or Nancy Kulesa
Tel.: (800) 797-5499
Website: http://www.snlaw.net
e-mail: [email protected]

Scroll to Top