SAN DIEGO, Nov. 15 – LAWFUEL – The Law News Network — On November 2,…

SAN DIEGO, Nov. 15 – LAWFUEL – The Law News Network — On November 2, 2005, the law firm of Lerach Coughlin Stoia Geller Rudman & Robbins LLP (“Lerach Coughlin”) (http://www.lerachlaw.com/cases/firstbancorp/) filed a complaint on behalf of purchasers of First BanCorp. (“First BanCorp”) (NYSE: FBP – News). The complaint alleges a series of false and misleading statements associated with the company’s accounting practices and follows a lengthy investigation by Lerach Coughlin. Since Lerach Coughlin filed a complaint, several law firms, including the Law Offices of Charles J. Piven, P.A., have issued press releases claiming to offer “information” about joining the suit. Be advised that many of these firms have not even filed a complaint. Rather, these press releases appear to be an advertisement designed to solicit clients so that these firms can participate in the case.

If you purchased First BanCorp publicly traded securities between October 20, 2003 and August 25, 2005, and wish to serve as lead plaintiff, you must move the Court no later than 60 days from November 2, 2005. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, William Lerach or Darren Robbins of Lerach Coughlin at 800/449-4900 or 619/231-1058, or via e-mail at [email protected] If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/firstbancorp/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Lerach Coughlin, a 160-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site (http://www.lerachlaw.com) has more information about the firm.

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