PHILADELPHIA A class action lawsuit was recently filed in the U.S. District Court for the Eastern District of Virginia on behalf of all purchasers of Humphrey Hospitality Trust securities during the period from November 14, 2000 through March 29, 2001 against Paul Schulte, the company s chairman/CEO and director, James Humphrey, Jr., vice-chairman/president/COO/treasurer/director, and Steven Borgamann, evp/secretary/director.
The complaint alleges that defendants violated certain sections of the SEC Act of 1934 in issuing a series of material misrepresentations to the market during the Class Period, thereby artificially inflating the price of Humphrey securities. (5/21/01)