INVESTOR NOTICE: MURRAY, FRANK & SAILER LLP HAS FILED A SHAREHOLDER CLASS ACTION ON BEHALF OF DHB INDUSTRIES INC. INVESTORS- DHB
New York, NY (PrimeZone) September 15, 2005 - MURRAY, FRANK & SAILER LLP has filed a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of shareholders who purchased or otherwise acquired the securities of DHB Industries Inc. (“DHB” or the “Company”) (AMEX: DHB) between April 21, 2004 through August 29, 2005, inclusive (the “Class Period”).
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The complaint charges DHB, David H. Brooks, Sandra Hatfield, and Dawn M. Schlegel, with violations of the Securities Exchange Act of 1934. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that DHB’s body armor products were unsafe and defective; (2) that despite knowledge of this, the Company continued to falsely represent that its body armor products were safe and of high quality; (3) that defendants knew and/or recklessly disregarded that continued sales of its unsafe and defective body armor products could have a material adverse effect on DHB’s finances; and (4) that DHB lacked adequate internal controls and because of this, was unable to determine the true financial impact of withdrawal of any of its products.
On August 30, 2005, DHB announced that it would take a charge of up to $60 million in the third quarter to discontinue production of certain bullet-proof vests because of safety concerns. Following this announcement, shares of DHB, on August 30, 2005, fell $1.56 per share, or 23.42 percent, to close at $5.10 per share on unusually heavy trading volume.
MURRAY, FRANK & SAILER LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than fifteen years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.
If you purchased or otherwise acquired DHB securities on any world exchange between April 21, 2004 through August 29, 2005, and sustained damages, you may, no later than November 8, 2005, move the Court to serve as lead plaintiff. Shareholders outside the United States may also join the action, regardless of which exchange was used to purchase the securities. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this class action as lead plaintiff online at http://www.murrayfrank.com/CM/NewCases/NewCases.asp. If you would like to discuss this action, this announcement, or your rights and interests, please contact plaintiff’s counsel Eric J. Belfi, Christopher Hinton or Bradley Dyer of MURRAY, FRANK & SAILER LLP.
MURRAY, FRANK & SAILER LLP
Eric J. Belfi
(800) 497-8076 or (212) 682-1818
Fax: (212) 682-1892
Email: [email protected]