LOS ANGELES, March 29, 2002 (PRIMEZONE) -- Stull, Stull & Brody announced that it has filed a class action complaint on behalf of all persons who acquired Calpine Corporation (NYSE:CPN) securities between March 15, 2001 and December 13, 2001, inclusive (the "Class Period"). The complaint charges that Calpine ("Calpine" or the "Company") and certain of its officers and directors, violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Calpine has ownership interests in and operates gas fields, gas pipelines, geothermal steam fields and geothermal power generation facilities in the United States and Canada. The complaint alleges the Company and certain of its officers and directors issued false and misleading statements concerning its business and financial condition during the Class Period. In particular, the complaint charges defendants issued opaque and confusing balance sheets which artificially inflated the Company's reported EBITDA (earnings before interest, taxes, depreciation and amortization).
The complaint alleges that as a result of the defendants' conduct, plaintiff and other members of the Class suffered damages.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Stull, Stull & Brody who has significant experience and expertise in prosecuting class actions on behalf of investors and shareholders. If you are a member of the class described above, you may, no later than May 13, 2002, move the Court to serve as lead plaintiff, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements.
If you wish to discuss this action, or have any questions concerning this notice, or your rights or interests with respect to this matter, please contact plaintiff's counsel listed below or visit our Website at www.secfraud.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca