Lerach Coughlin Stoia Geller Rudman & Robbins LLP
("Lerach Coughlin")
(http://www.lerachlaw.com/cases/cocacolaenterprises/) today announced
that a class action has been commenced in the United States District
Court for the Northern District of Georgia on behalf of all persons
who purchased or otherwise acquired the securities of Coca-Cola
Enterprises, Inc. ("CCE") (NYSE:CCE) during the period between October
15, 2003 and July 28, 2004 (the "Class Period").
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from February 16, 2006. 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 wsl@lerachlaw.com. 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/cocacolaenterprises/. 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.
CCE is the world's largest marketer, producer and distributor of products of The Coca-Cola Company. The complaint alleges that defendants violated the Securities Exchange Act of 1934 by failing to disclose to the investing public that CCE had a longstanding and systemic practice of channel stuffing, forcing extra product onto its customers to boost revenue. CCE's reported financial results and future earnings prospects were materially misleading without disclosure of CCE's channel stuffing practices and how those practices affected CCE's financial condition. The complaint also alleges that CCE's channel stuffing resulted in the improper recognition of revenue in violation of generally accepted accounting principles.
On July 29, 2004, CCE made a partial corrective disclosure regarding CCE's true financial condition and diminished future earnings prospects. On this news, CCE's stock price fell by approximately 25% or $5 per share, erasing nearly $3.1 billion of CCE's then $12.5 billion market capitalization.
Plaintiff seeks to recover damages on behalf of all persons who purchased or otherwise acquired CCE securities during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has extensive experience in prosecuting investor class actions and actions involving financial fraud.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from February 16, 2006. 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 wsl@lerachlaw.com. 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/cocacolaenterprises/. 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.
CCE is the world's largest marketer, producer and distributor of products of The Coca-Cola Company. The complaint alleges that defendants violated the Securities Exchange Act of 1934 by failing to disclose to the investing public that CCE had a longstanding and systemic practice of channel stuffing, forcing extra product onto its customers to boost revenue. CCE's reported financial results and future earnings prospects were materially misleading without disclosure of CCE's channel stuffing practices and how those practices affected CCE's financial condition. The complaint also alleges that CCE's channel stuffing resulted in the improper recognition of revenue in violation of generally accepted accounting principles.
On July 29, 2004, CCE made a partial corrective disclosure regarding CCE's true financial condition and diminished future earnings prospects. On this news, CCE's stock price fell by approximately 25% or $5 per share, erasing nearly $3.1 billion of CCE's then $12.5 billion market capitalization.
Plaintiff seeks to recover damages on behalf of all persons who purchased or otherwise acquired CCE securities during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has extensive experience in prosecuting investor class actions and actions involving financial fraud.