[October 22, 2004] Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Dobson Communications, Inc. HARTFORD, Conn., Oct. 22 /PRNewswire/ -- 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 Oklahoma on behalf of all persons who purchased the publicly traded securities of Dobson Communications, Inc. ("Dobson") between May 19, 2003 and August 9, 2004, inclusive (the "Class Period"). Also included are all those who acquired Dobson's shares through its acquisitions of American Cellular Corp. and NPI-Omnipoint Wireless. The Complaint alleges that Dobson, a wireless communications services provider, and certain of its officers and directors issued materially false statements. Specifically, defendants issued numerous positive statements describing Dobson's financial prospects and the continued growth in Dobson's roaming minutes, which are based on increased minutes of use. It is alleged that defendants knew, but failed to disclose that: (i) Dobson's growth in roaming minutes was substantially declining, and the Company had experienced negative growth in October 2003; (ii) AT&T, the Company's largest roaming customer, had notified defendants that it wanted to dispose of its equity interest in Dobson that it had held since Dobson's IPO, significantly decreasing AT&T's interest in purchasing roaming capacity from Dobson; (iii) Bank of America intended to dispose of its substantial equity interest in Dobson as soon as AT&T disposed of its equity interest in Dobson; and (iv) the Company had been missing sales quotas and losing market share throughout the Class Period. If you are a member of the class, you may, no later than December 21, 2004 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/. CONTACT: Nancy A. Kulesa or Wayne T. Boulton Tel.: (800) 797-5499 Website: http://www.snlaw.net/ e-mail: [email protected] Schatz & Nobel, P.C. CONTACT: Nancy A. Kulesa or Wayne T. Boulton, both of Schatz & Nobel,P.C., +1-800-797-5499, [email protected] Web site: http://www.snlaw.net/ [ Back To TMCnet.com's Homepage ]