CAR_Public/020318.mbx                C L A S S   A C T I O N   R E P O R T E R
  
                Monday, March 18, 2002, Vol. 4, No. 54

                            Headlines

ALABAMA: Jackson County To Benefit From Child Welfare Consent Decree
CANADA: Hamilton To Compensate 3,000 Residents For 1997 Plastimet Fire
CITIZENS COMMUNICATIONS: $5.5M Power Outages Settlement Awaits Approval
FLORIDA: Group Charges DCF With Violating Disabled Care Suit Settlement
FORD MOTOR: Judge Approves US$10.5 Million Settlement To Age Bias Suit

INTEGON GENERAL: Consumers Sue For Inferior Replacement Parts Use
OKLAHOMA BOMBING: Suit Charges Iraq With Planning, Financing Attack
ROSE ART: Voluntarily Recalls 124,000 Soap Making Kits For Burn Hazard
TERRORIST ATTACK: Amnesty International Protests "Illegal" Detentions
TOXIC MOLD: Workers File Suit V. Parish Due To Toxic Mold in Building

TRAVEL AGENCIES: Settles Suit Over Deceptive Discount Travel Programs

                        Securities Fraud

ACTRADE FINANCIAL: Schiffrin Barroway Lodges Securities Suit in S.D. NY
ACTRADE FINANCIAL: Berger Montague Initiates Securities Suit in S.D. NY
ALLIED IRISH: Marc S. Henzel Commences Securities Suit in S.D. NY
CORNELL COMPANIES: Marc Henzel Commences Securities suit in S.D. TX
CORNING INC.: Schiffrin Barroway Commences Securities Suit in W.D. NY

ELAN CORPORATION: Marc Henzel Commences Securities Suit in S.D. NY
ELAN CORPORATION: Kaplan Fox Commences Securities Suit in S.D. NY
GILAT SATELLITE: Glancy Binkow Commences Securities Suit in E.D. VA
GILAT SATELLITE: Marc Henzel Initiates Securities Suit in E.D. NY
HANOVER COMPRESSOR: Schoengold Sporn Lodges Securities Suit in S.D. TX

HEWLETT PACKARD: Hearings On Dismissal of Federal, State Cases Set
LUMENIS LTD.: Wolf Haldenstein Initiates Securities Suit in S.D. NY
LUMENIS LTD.: Schiffrin Barroway Commences Securities Suit in S.D. NY
LUMENIS LTD.: Marc Henzel Initiates Securities Fraud Suit in S.D. NY
LUMENIS LTD.: Cauley Geller Commences Securities Fraud Suit in S.D. NY

MEDI-HUT CO.: Leo Desmond Commences Securities Suit in S.D. New York
MEDI-HUT CO.: Marc Henzel Commences Securities Fraud Suit in New Jersey
NVIDIA CORPORATION: Kaplan Fox Initiates Securities Suit in N.D. CA
PNC FINANCIAL: Kaplan Fox Commences Securities Fraud Suit in S.D. PA
SMARTTALK TELESERVICES: Partial Settlement Approved In Securities Suits

SYMBOL TECHNOLOGIES: Berman DeValerio Files Securities Suit in E.D. NY
SYMBOL TECHNOLOGIES: Marc Henzel Initiates Securities Suit in E.D. NY
SYNSORB BIOTECH: Cauley Geller Commences Securities Suit in S.D. NY
SYNSORB BIOTECH: Schiffrin Barroway Lodges Securities Suit in S.D. NY
TORCH OFFSHORE: Marc Henzel Lodges Securities Fraud Suit in E.D. LA
                             
                            *********

ALABAMA: Jackson County To Benefit From Child Welfare Consent Decree
--------------------------------------------------------------------
Jackson County, Alabama's Department of Human Resources (DHR) could
possibly benefit from a consent decree that settled a 1998 class action
against the State, known as the "RC Case," DHR Director, Drenda King,
told the Sentinel.  The suit was filed on behalf of an 8-year-old
Jefferson County boy with the above initials RC, and 1,500 other
Alabama children, whose rights were violated when the state failed to
provide them with family preservation services and specialized care for
his emotional needs.

In May, 1991, the State forged a consent decree establishing the
standards of its child protective services and foster care system.  The
decree established measures, which are to be implemented by October
2002:

     (1) Children shall live with their families unless their safety
         cannot be protected with the provision of services;

     (2) Individualized services shall be based on an analysis of
         strengths and needs of the child and family;

     (3) Children who are living with their families or in foster care
         shall have access to services that are comprehensive and
         include concrete services. If necessary, services shall be
         created to meet the needs of children and families;

     (4) Individualized service plans will be realistic, strength based
         and changed as family needs change;

     (5) Children, families, foster families and others involved in the
         family's life shall have a voice in the planning process;

     (6) Services will be coordinated, therapeutic and culturally
         responsive;

     (7) Permanency and stability in children's lives will be promoted;

     (8) Services will be delivered in the most normalized setting
         appropriate to the family's strengths and needs;

     (9) Children will have access to their families through
         visitation, phone and mail, and other communication;

    (10) Children, families and foster families will have access to
         advocacy, including attorneys;

    (11) Children will be free from excessive medication, seclusion and
         restraint, and shall receive appropriate behavior management;

    (12) Older children will receive transition and independent living
         skills;

    (13) Needs of sex abuse victims will be met;

    (14) Child abuse and neglect allegations will be investigated
         quickly;

Ms. King told the Sentinel the counties were implemented in stages to
undergo the changes, and Jackson County was in stage 2.  "We began the
conversion process in 1995," she said. "We were declared converted by
the court monitor in January of 1997. We were one of the first
counties. I believe that is because Jackson County was already
practicing good child welfare. We needed more money and more employees
to carry out the programs, and the lawsuit gave us that."  

Because of this, Ms. King expects positive developments in child-care
for Jackson County.  She added that the state has been a model for
others in child welfare reform, as many similar "RC Cases" are now
pending in different states.


CANADA: Hamilton To Compensate 3,000 Residents For 1997 Plastimet Fire
----------------------------------------------------------------------
The province of Hamilton will compensate more than 3,000 of its
residents for the physical and emotional damages they suffered in the
wake of the 1997 fire, which broke out on July 9, 1997 in the
Wellington Street North Plastimet recycling plant.  The fire caused a
huge, toxic plume to hover over Hamilton, causing residents to evacuate
their homes.

Lead plaintiff Jay Cotter filed the suit on behalf of his family and
his neighbors.  He told thestar.com the suit was never about money, but
was about focusing his anger on the politicians and business owners who
had put the environment and the safety of citizens at such great risk.  
"There were numerous people in the north end who worried about these
abandoned or derelict factories. And basically, the city just allowed
them to operate. The only time they were fined was when people from
around here would take the time to investigate and find out about
things that were going on illegally."

Superior Court Justice David Crane endorsed the payment of US$175 to
more than 3,000 claimants and eight businesses.  "This has been a long,
difficult case and a somewhat precedent-setting mass tort claim.
Certainly, this community felt a grievance and a process was taken that
hopefully made a reasonable response to that grievance," he said.


CITIZENS COMMUNICATIONS: $5.5M Power Outages Settlement Awaits Approval
-----------------------------------------------------------------------
Citizens Communications, Inc. agreed to settle for US$5.5 million a
class action pending in the Santa Cruz County Court, Arizona, which
arose after a series of power outages hit Santa Cruz County from
January 1,1997 to January 31,1999. The suit was filed on behalf of all
of the Company's electric customers in the county.

The Company is awaiting the Court's approval of the settlement, which
is expected to occur on the first half of 2002.  The Company does not
admit guilt or wrongdoing in the settlement, and believes that the
ultimate resolution of the suit will not have a material effect on its
finances or operations.


FLORIDA: Group Charges DCF With Violating Disabled Care Suit Settlement
-----------------------------------------------------------------------
An advocacy group for disabled Florida residents alleges that the
State's Department of Children and Families (DCF) is not properly
implementing the settlement of a 1998 lawsuit concerning the inadequacy
of the State's disabled healthcare program, the Miami Herald reports.

The Department was initially sued in 1998 by watchdog The Advocacy
Center for Persons with Disabilities, alleging the health care program
was under-funded, causing thousands of people with autism, cerebral
palsy, and mental retardation to stay on a long waiting list.  As a
result, lawmakers approved about $300 million in additional funding
between 1998 and 2000, nearly doubling the number of Floridians who
received services, allowing them to live either in their own homes or
in small, homelike settings. Among the services the program provides
are speech therapy, wheelchairs and lifts.

Now, the Advocacy Center says the State is violating the settlement and
that the State's effort fall short of the settlement's requirements.  
"People are struggling," Susan Goldstein, who heads the Autism
Society's Florida chapter told the Herald.  "That's the difference
between Florida and other states. We're happy with the crumbs we get."

The Department's General Counsel, Josefina Tamayo said, "We are in the
process of reviewing the letter, and we are looking at the issues they
raise very closely.We are going to be filing a response to address
their issues and their claim of non-performance."

If the two parties fail to agree, the suit could be reinstated in
Federal Court.


FORD MOTOR: Judge Approves US$10.5 Million Settlement To Age Bias Suit
----------------------------------------------------------------------
Wayne County Circuit Court Judge Edward Thomas granted final approval
to a US$10.5 million settlement to two discrimination class actions
against automobile giant Ford Motor Company over its employee
evaluation system, Associated Press reports.

The suits alleged that the Company's evaluation system known as the
Performance Management Process, discriminated against older, white men.  
One of the lawsuits alleged age, race and gender bias, while the other
alleged only age discrimination.  The evaluation system, put in place
by former Company president Jacques Nasser, evaluated managers with
grades of A, B, or C. A grade of C could lead to the loss of bonuses,
raises or promotions. Two consecutive C's could lead to dismissal.  
Managers performing the evaluations were given quotas for meting out
each grade level. The plaintiffs claimed a disproportionate number of
older, white men received C's, Associated Press reports.

Mr. Nasser has since resigned from the Company, with Bill Ford, Jr.
replacing him as CEO. In July last year, three classifications replaced
the letter grades, and the quotas were eliminated.

Under the consent decree, each plaintiff will receive up to US$ 100,000
minus attorney's fees, depending on length of employment and other
criteria.  The Company admitted no liability in the settlement, the
implementation of which would release the claims against the Company.

"It's a relief it's over," John Streeter told AP. "For a lot of people
still working at Ford, it will help heal some of their wounds."


INTEGON GENERAL: Consumers Sue For Inferior Replacement Parts Use
-----------------------------------------------------------------
Integon General Insurance Corporation faces a class action filed in a
Florida trial court by consumers who allege the Company violated State
law by using inferior replacement parts in automobile repairs.

The suit alleges that the Company, a division of GMAC Insurance, used
inferior auto parts rather than better quality and more expensive
original manufacturer equipment when repairing automobiles.  The suit
further alleges that the use of inferior parts decreases the safety of
drivers and passengers, decreases the worth of the car and, in some
cases, could void the manufacturer's warranty.

Finally, the suit alleges that the use of non-original manufacturer
equipment violates the Company's obligations to its policyholders and
others whose cars are damaged by Company policyholders.


OKLAHOMA BOMBING: Suit Charges Iraq With Planning, Financing Attack
-------------------------------------------------------------------
A class action filed in the US District Court in Washington DC charges
Iraq with planning and financing "in whole or in part" the bombing of
the Alfred P. Murrah Federal Building in Oklahoma City nearly seven
years ago, WorldNetDaily reports.

The April 19, 1995 an attack on the building killed 168 people and
destroyed nearly one-third of the structure.  Federal officials later
apprehended two of the instigators of the attack.  Former Army vet
Timothy McVeigh was executed in June 11,2001 while accomplice Terry
Nichols now serves a life sentence for his role in the bombing.

The suit alleges that the Oklahoma City bombing was "orchestrated,
assisted technically and/or financially, and directly aided by agents
of the Republic of Iraq.was an illegal continuation of the Persian Gulf
War."  The plaintiffs in the suit additionally allege that they and
their loved ones were  "civilian casualties of (the) Gulf War."

Legal group Judicial Watch filed the suit, which asserts claims under
the Antiterrorism and Death Penalty Act of 1996, which addresses state-
sponsored terrorism and has a specific provision for retroactive
application.   The group said in a statement, "Judicial Watch and its
clients contend that other individuals, in addition to Timothy McVeigh
and Terry Nichols, were involved in the preparation for and execution
of the attack on the Murrah Building.These individuals were operating
as agents of the Republic of Iraq."

The plaintiffs allege that they have strong "direct and circumstantial"
evidence of Iraq's involvement.   Larry Klayman, Chairman and lead
counsel of Judicial Watch, told the WorldNet Daily the evidence against
Iraq is strong.   

Mr. Klayman revealed that reports from Philippine intelligence and law
enforcement sources form the basis for much of the information
contained in the lawsuit. Specifically, the suit details meetings
between Nichols and Ramzi Youssef, the mastermind of the 1993 World
Trade Center bombing, during Nichols' travel to the Philippines between
1990 and 1994, WorldNetDaily reports.   Mr. Klayman added that the
group is developing other evidence as well.

"It's time the whole story about the Oklahoma City bombing is revealed
and that justice is done for the Iraqis' State sponsorship of that
brutal attack on American citizens," Mr. Klayman said.


ROSE ART: Voluntarily Recalls 124,000 Soap Making Kits For Burn Hazard
----------------------------------------------------------------------
Rose Art Industries, Inc. is cooperating with the US Consumer Product
Safety Commission (CPSC) by voluntarily recalling about 124,400 Soap
Making Kits.  The soap may get too hot when heated in the microwave
oven and leak from the plastic container posing a burn hazard to
children.  The Company has received 10 reports of children being
burned by the hot soap while removing the plastic container from the
microwave oven.

The soap making kit is sold in a cardboard box with model number 4054
or a plastic case with model number 4121 on the packaging. The model
number is located on the upper right hand corner on the front of the
packaging. Each kit includes bars of soap, molds, and a plastic cup
to melt soap chunks.

Toy and discount stores, including Toys R Us, Wal Mart, Kaybee Toys,
Target and Value City, sold these kits nationwide between August 1997
through December 2001 for about $10.

For more information, contact the Company by Phone: 800-272-9667
between 9 am and 5 pm ET Monday through Friday or visit the firm's Web
site: http://www.roseart.com


TERRORIST ATTACK: Amnesty International Protests "Illegal" Detentions
---------------------------------------------------------------------
The United States government allegedly violated the human rights of
more than 1,200 people when it took them into custody in its search for
possible suspects connected to the September 11 attacks on the World
Trade Center and the Pentagon, advocacy group Amnesty International
contends.

The group condemned the government's policy, alleging in a report that
the United States violated the detainees rights to humane treatment, to
have prompt access to a lawyer, to be able to challenge the lawfulness
of their detention and to be presumed innocent until proven otherwise.  
The group also issued reports of detainees not knowing why they have
been held, and being treated cruelly including prolonged solitary
confinement, heavy shackling of detainees and lack of adequate
exercise, the Associated Press reported.

In a statement, Amnesty International Executive Director William Schulz
said, "The government's treatment of these individuals is simply
unacceptable and is a violation of international law."

The government has not divulged the names of the detainees.  Attorney
General John Ascroft told Associated Press that the information would
be "too sensitive for public scrutiny."  He has also said the
Department's efforts to combat terrorism were carefully crafted to
avoid infringing on constitutional rights while saving American lives.

Amnesty International wants a full inquiry into the detentions and
urged authorities to release detailed information on all detentions. In
addition, it requested that individuals not be deported to countries
where they would be at risk of serious human rights abuses.


TOXIC MOLD: Workers File Suit V. Parish Due To Toxic Mold in Building
---------------------------------------------------------------------
The Plaquemines Parish in New Orleans faces a class action filed by its
911 dispatchers, after several people fell sick due to toxic mold in
the parish building, TheNewOrleansChannel.com reports.  

The dispatchers are now working out of a borrowed bus. Health officials
found stachybotrys mold in the ceiling tiles in the dispatch room in
November.  That same month, a consultant published a report saying that
the conditions in the building were "unacceptable" from a human health-
risk perspective.

The class action alleges that the parish purposely delayed the
submission of the report to the parish sheriff.  Sheriff Jiff Hingle
only learned about the report last week, four months after it was first
submitted.  "I have two of my dispatchers that are seriously ill with
lung problems," Sheriff Hingle said. "I've had numerous others that
have been out from work because of rash problems, sinus problems,
headaches -- and it seems to be after they pulled a complete shift here
these problems seem to flare up."

The problems were so persistent that Hingle asked parish administrators
to examine the mold and water leaks in the building, according to
theNewOrleansChannel.com.  Mr. Hingle said he is angry that he was not
told about the report and the danger to his deputies as soon as the
results were delivered to parish officials.

Parish President, Benny Rouselle, denied the allegations of the suit,
saying he had not read the report.  He states, "First of all, they did
not deliver the report to me.The report was delivered to the health
department, and the health department evidently delivered it to the
building maintenance department and they discussed what their plan of
action would be."  


TRAVEL AGENCIES: Settles Suit Over Deceptive Discount Travel Programs
---------------------------------------------------------------------
Texas State Court has approved a $350,000 settlement of the class
action against Turn of the Century Adventure, Inc., Travelbridge
International, Inc., and various related companies.  

The suit alleges that the companies violated state law by misleading
and deceiving consumers into purchasing a discount travel program, and
names as a class all consumers who purchased the Travelbridge or
Century Adventure travel program between January 1, 2000, and February
28, 2002.

The action stemmed from the sale by Travelbridge and Century Adventure
of a discount travel program which the companies told consumers would
allow them discounts, upgrades and courtesies available only to travel
agents. Consumers were led to believe that these special industry
rates, available at airlines, car rental companies, cruise lines and
hotels, could be obtained by attending a Travelbridge seminar on
discounted travel and then purchasing the discount travel program for
up to $5,390.

In reality, however, these discounts are only available to travel
agents with an International Airlines Travel Agent Network card and
were not available to consumers who had purchased the Travelbridge
"travel agent" discount program.

The settlement agreement requires Travelbridge and Century Adventure to
refund $350,000 to consumers as restitution. In addition, an injunction
will prevent the companies from stating to consumers that the discount
program entitles purchasers to travel agent rates. The injunction will
also prohibit the companies from issuing identification cards that
state their members are travel agents and will require Travelbridge and
Century Adventure to inform consumers that generally only individuals
who work in the travel industry are allowed travel agent rates.

Consumers are eligible for a refund if they submit a written refund
request to the Texas Attorney General's office by March 31, 2002. All
refunds will be distributed by June 30, 2002.


                           Securities Fraud


ACTRADE FINANCIAL: Schiffrin Barroway Lodges Securities Suit in S.D. NY
-----------------------------------------------------------------------
Schiffrin Barroway LLP initiated a securities class action against
Actrade Financial Technologies, Ltd. (Nasdaq:ACRT) claiming that the
company misled investors about its business and financial condition, in
the US District Court for the Southern District of New York on behalf
of all investors who bought the Company's securities between March 11,
1999 through February 11, 2002.

The suit alleges that the Company issued a series of materially false
and misleading statements to the market between March 11, 1999 and
February 11, 2002. Throughout the class period, the Company issued
press releases announcing record quarterly results and describing its
business as providing trade financing and business-to-business
financing solutions. In addition, the Company, in its fiscal year 2000
and 2001 Annual Reports filed with the SEC on Form 10-K405, represented
that its loans were covered by insurance and surety bonds, which
minimized the Company's risk on the loans.

The representations in the press releases and annual reports were,
according to the allegations of the complaint, materially false and
misleading because the Company had loaned over $10 million to
individuals, not businesses, who used the proceeds personally. In
addition, according to the complaint, defendants are alleged to have
failed to disclose to their insurers and sureties the nature of the
personal loans and, as a result, the Company was jeopardizing its
ability to collect under the policies and surety bonds in the case of
default.

On February 11, 2002, Barron's published an article detailing the
Company's questionable lending practices and its alleged
misrepresentations and omissions to insurers and sureties. For example,
the article recounts a $6.3 million loan-default by an individual that
the Company was attempting to recruit as a broker, and which an insurer
and surety refused to cover on his default because they allegedly were
led to believe by the Company that the loan was for a business purpose
when in fact the individual pocketed the funds.

In reaction to the Barron's article, Company stock price plummeted by
45%, falling to $13.75 per share on February 11, 2002, from a $24.89
per share close on February 8, 2002, which fell on a Friday.

For more information, contact Shareholder Relations Manager by Phone:
888-299-7706 (toll free) or 610-822-2221 or by E-mail:
info@sbclasslaw.com


ACTRADE FINANCIAL: Berger Montague Initiates Securities Suit in S.D. NY
-----------------------------------------------------------------------
Berger & Montague, PC commenced a securities class action against
Actrade Financial Technologies (Nasdaq: ACRT) and certain of its
principal officers and directors in the United States District Court
for the Southern District of New York on behalf of all persons or
entities who purchased Company securities between March 11, 1999 and
February 8, 2002.

The suit alleges that defendants violated the federal securities laws
by issuing materially false and misleading statements throughout the
class period that had the effect of artificially inflating the market
price of the Company's securities.  The suit further contends that
throughout the class period, defendants stated that the Company
provided short-term loans to businesses to finance commercial
transactions.

The suit alleges that these statements were false and misleading
because defendants knew, or recklessly disregarded, that the Company
had also loaned millions of dollars to individuals for non-commercial
purposes, defrauded its sureties into providing coverage for these
loans, and had overstated its financial results based on these
fraudulent lending practices.

For more information, contact Sherrie R. Savett, Douglas M. Risen or
Kimberly A. Walker by Mail: 1622 Locust Street, Philadelphia, PA 19103
by Phone: 888-891-2289 or 215-875-3000 by Fax: 215-875-5715 by E-mail:
InvestorProtect@bm.net or visit the firm's Web site:
http://www.bergermontague.com


ALLIED IRISH: Marc S. Henzel Commences Securities Suit in S.D. NY
-----------------------------------------------------------------
The Law Offices of Marc S. Henzel initiated a securities fraud class
action in the United States District Court for the Southern District of
New York, on behalf of all persons who acquired AIB American Depositary
Receipts of Allied Irish Banks, PLC (NYSE: AIB) (ADRs) between January
1, 2001 and February 6, 2002, inclusive.

The suit alleges that the Company's financial reports since 1999
fraudulently failed to reflect at least $691 million of currency
trading losses associated with its AllFirst Financial, Inc. subsidiary.

On February 6, 2002, the Company shocked the investment markets by
disclosing for the first time that its AllFirst subsidiary had
concealed massive losses from foreign exchange trading, and that it had
halted all currency trading at AllFirst.

Following this announcement, the Company's ADR price fell to $19.77,
down 16% from the previous day's close of $23.55.  The Company has
since admitted that its 2001 financial reports alone overstated net
income by as much as $449 million.

For more information, contact Marc S. Henzel by Mail: 273 Montgomery
Ave., Suite 202, Bala Cynwyd, PA 19004 by Phone: 610-660-8000 or
888-643-6735 by Fax: 610-660-8080 or by E-Mail: mhenzel182@aol.com       


CORNELL COMPANIES: Marc Henzel Commences Securities suit in S.D. TX
-------------------------------------------------------------------
The Law Offices of Marc S. Henzel initiated a securities class action
in the United States District Court for the Southern District of Texas
on behalf of purchasers of Cornell Companies, Inc. (NYSE: CRN) common
stock during the period between March 6, 2001 and March 5, 2002.

The suit charges the Company and certain of its officers and directors
with violations of the Securities Exchange Act of 1934.  The suit
alleges that during the class period, defendants issued favorable but
false financial statements and made false and misleading statements
about the Company's business.

As a result of these false statements, the Company's stock traded as
high as $18.40.  The defendants took advantage of this artificial
inflation, selling 3.4 million shares of Company stock for proceeds of
over $48 million in a November 2001 secondary offering.

On February 6, 2002, Bloomberg ran an article on the Company which
stated in part, "Cornell Cos., which operates 69 prisons in 13 states
and the District of Columbia, said it will review the accounting of an
August real estate transaction involving 11 properties. Its shares fell
as much as 63 percent. The company received a letter Thursday from
auditor Arthur Andersen LLP that raised concern about the transaction,
said Larry Stein of FRB Weber Shandwick, a firm that handles public
relations for Cornell. The Andersen review was part of a year-end
audit."  Upon these disclosures, Company stock dropped to as low as
$6.50 before closing at $9.96 on February 6, 2002, some 45% below the
class period high of $18.40.

On March 6, 2002, the Company issued a press release entitled, "Cornell
Companies Inc. to Restate Its Financials for Year Ended December 31,
2000 and Subsequent Quarters." On this news, the Company's shares
plummeted once again by more than 10%.

For more information, contact Marc S. Henzel by Mail: 273 Montgomery
Ave., Suite 202, Bala Cynwyd, PA 19004 by Phone: 610-660-8000 or
888-643-6735 by Fax: 610-660-8080 or by E-Mail: mhenzel182@aol.com        


CORNING INC.: Schiffrin Barroway Commences Securities Suit in W.D. NY
---------------------------------------------------------------------
Schiffrin & Barroway, LLP initiates securities class action in the US
District Court for the Western District of New York (02-CV-6117) claims
that Corning, Inc. (NYSE:GLW) misled shareholders about its business
and financial condition. The suit alleges violations of Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934 on behalf of all
investors who bought Company securities between September 27, 2000
through July 10, 2001.

The suit alleges that the Company and certain of its officers and
directors with issuing false and misleading statement concerning its
business and financial condition. Specifically, the complaint asserts
claims against the defendants for violations of Sections 10(b) and
20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder.

For more information, contact Marc A. Topaz or Stuart L. Berman by
Phone: 888-299-7706 (toll free) or 610-822-2221 or by E-mail:
info@sbclasslaw.com


ELAN CORPORATION: Marc Henzel Commences Securities Suit in S.D. NY
------------------------------------------------------------------
The Law Offices of Marc S. Henzel initiated a securities class action
in the United States District Court for the Southern District of New
York, on behalf of purchasers of Elan Corporation PLC (NYSE: ELN)
securities between December 21, 2000 and February 1, 2002, inclusive,
against the Company, certain of its officers, and its auditor, KPMG
LLP.

The suit alleges that defendants violated the federal securities laws
by issuing materially false and misleading statements throughout the
class period that had the effect of artificially inflating the market
price of the Company's securities.

Specifically, the complaint alleges that throughout the class period,
defendants issued to the investing public false and misleading
financial statements and press releases concerning the Company's
publicly reported revenues and earnings. Moreover, the Company omitted
to state material information necessary in order to make prior
statements not misleading.

The suit additionally alleges that the Company engaged in improper
accounting practices that artificially inflated its reported revenues,
artificially increasing the asset side of its balance sheet, and
improperly reduced its reported expenses.

On January 30, 2002, the Wall Street Journal first reported on some of
the Company's accounting practices and on February 4, 2002, the Company
issued a press release providing information about two "qualified
special purpose entities," or QSPEs, which it said were not
consolidated in its final results as presented under US accounting
principles. It is said that the value of the investment of the two
QSPEs was "insufficient to pay the indebtedness of the entities."

In response to these revelations, the market price of Company stock
dropped precipitously from a class period high of $65 to below $15 on
February 4, 2002.

For more information, contact Marc S. Henzel by Mail: 273 Montgomery
Ave., Suite 202, Bala Cynwyd, PA 19004 by Phone: 610-660-8000 or
888-643-6735 by Fax: 610-660-8080 or by E-Mail: mhenzel182@aol.com       


ELAN CORPORATION: Kaplan Fox Commences Securities Suit in S.D. NY
-----------------------------------------------------------------
Kaplan Fox and Kilsheimer, LLP initiated a securities class action in
the United States District Court for the Southern District of New York
against Elan Corporation PLC. (NYSE:ELN) and certain of its officers
and directors, on behalf of all persons or entities who purchased
American Depository Shares (ADSs) of the Company between April 23, 2001
and January 30, 2002, inclusive.

The suit alleges that the Company and certain of its officers and
directors violated Sections 10 (b) and 20 (a) of the Securities
Exchange Act of 1934. Specifically, it is alleged that the Company
improperly reported revenues and earnings from entities in which it had
joint ventures and/or invested in.

In a Wall Street Journal article published on January 30, 2002
questioning the propriety of the Company's accounting practices, former
SEC Chief Accountant, Lynn Turner reportedly characterized certain of
the types of accounting practices utilized by the Company referred to
in the article as a "charade."  It is alleged that as a result of
Defendants improper accounting practices during the class period, the
price of Company ADSs traded at artificially inflated prices.

For more information, contact Frederic S. Fox, Joel B. Strauss or
Shelley Thompson by Mail: 805 Third Avenue, 22nd Floor, New York, NY
10022 by Phone: 800-290-1952 or 212-687-1980 by Fax: 212-687-7714 or by
E-mail: mail@kaplanfox.com


GILAT SATELLITE: Glancy Binkow Commences Securities Suit in E.D. VA
-------------------------------------------------------------------
Glancy & Binkow initiated a securities class action against Gilat
Satellite Networks (NYSE:GILTF) alleging the Company and its officers
and directors violated federal securities laws, in the US District
Court for the Eastern District of Virginia on behalf of all persons who
purchased securities of Gilat between August 14, 2000, and March 9,
2001.

Among other things, the suit claims the defendants knew or recklessly
disregarded that the demand for and acceptance of the Company's
products and the products of its subsidiary, StarBand Communications,
were greatly overstated. In addition, the Company is accused of having
difficulty profitably manufacturing and selling its chief product, Very
Small Aperture Terminal, and that it reported false gross profit
margins.

For more information, contact Michael Goldberg by Mail: 1801 Avenue of
the Stars, Suite 311, Los Angeles, California 90067 by Phone:
310-201-9150 or 888-773-9224 or by E-mail: info@glancylaw.com.

GILAT SATELLITE: Marc Henzel Initiates Securities Suit in E.D. NY
-----------------------------------------------------------------
The Law Offices of Marc S. Henzel initiated a securities class action
in the United States District Court, Eastern District of New York, on
behalf of purchasers of the securities of Gilat Satellite Networks,
Ltd. (NASDAQ: GILTF) between November 13, 2000 and October 2, 2001,
inclusive.  The suit names as defendants the Company and officers Yoel
Gat and Yoav Libovitch.

The suit alleges that defendants violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934, and Rule 10b-5 promulgated
thereunder, by issuing a series of material misrepresentations to the
market between November 13, 2000 and October 2, 2001, thereby
artificially inflating the price of Company securities.

Prior to and throughout the class period, as alleged in the complaint,
the Company issued a series of materially false and misleading
statements which materially misrepresented its financial condition and
results because, among other things, the Company was improperly
delaying the writedown of tens of millions of dollars of inventory and
investments which were impaired and of diminishing value.

In addition, the Company failed to disclose that its StarBand division
was experiencing significant difficulties attracting customers and was
not generating the revenues for it that defendants had caused the
market to expect.

On October 2, 2001, the last day of the class period, the Company
issued a press release announcing that its financial results for the
third quarter of 2001 would be below previously announced guidance and
that it was taking additional charges. The Company reported that
revenues for the third quarter were expected to be $80 million, as
compared to the $150 million announced on May 14, 2001, and that the
Company expected to report a loss of $267 million or approximately
$11.40 per share.

Following this announcement, the price of Company shares dropped from
$5.38 per share to $3.32 per share, a decline of more than 38% on heavy
trading volume.

For more information, contact Marc S. Henzel by Mail: 273 Montgomery
Ave., Suite 202, Bala Cynwyd, PA 19004 by Phone: 610-660-8000 or
888-643-6735 by Fax: 610-660-8080 or by E-Mail: mhenzel182@aol.com       


HANOVER COMPRESSOR: Schoengold Sporn Lodges Securities Suit in S.D. TX
----------------------------------------------------------------------
Schoengold & Sporn, PC initiated a securities class action against
Hanover Compressor Company (NYSE: HC) and certain key officers and
directors of the Company in the United States District Court for the
Southern District of Texas on behalf of all purchasers of Hanover
during the period between November 8, 2000 and January 28, 2002.

The Company is a provider of natural gas compression, gas handling and
related services in the United States and selected international
markets. The complaint alleges violations of the federal securities
laws arising out of defendants' issuance of false financial statements
and other false and misleading statements about the Company's operating
performance.

The facts, which were known by the defendants during the class period
but concealed from the public, were that certain revenue and net income
recognized in the 3rd and 4th Quarter should not have been recognized.
Thus, the Company's financial statements for 1st to 3rd Quarter 2001
were false and misleading in that the revenue and EPS were overstated
and the impact of a particular project was not disclosed. Further, in a
secret "behind-the-scenes" type transaction, defendants refused to
refund money to an investor and instead forwarded the money to a
company related to the investor so that the transaction would go
uncovered.

For more information, contact Ashley Kim by Mail: 19 Fulton Street,
Suite 406 New York, New York 10038 by Phone: 212-964-0046 or
866-348-7700 or by Fax: 212-267-8137


HEWLETT PACKARD: Hearings On Dismissal of Federal, State Cases Set
------------------------------------------------------------------
Two California courts will hear oral arguments on April 26, 2002, on
the dismissal of two class actions against computer manufacturer
Hewlett Packard over its merger with Compaq Computer Corporation.

The first suit is pending in the Superior Court of the State
of California, County of Santa Clara, against various of the Company's
officers and directors.  The suit alleges that the defendants breached
their fiduciary duties to Company shareowners by, among other things,
failing to conduct reasonable due diligence into the propriety of the
merger and by filing with the Securities and Exchange Commission a
false and misleading registration statement on Form S-4 and preliminary
joint proxy statement/prospectus forming a part thereof in connection
with the merger transaction.

In December 2001, the defendants removed the case to the United States
District Court for the Northern District of California, and later moved
to dismiss the action.  In January 2002, the plaintiffs moved to remand
the case to State Court, and in February, moved for expedited
discovery.  The Magistrate Judge denied plaintiff's motion for
expedited discovery, and scheduled a hearing on defendants' motion to
dismiss and plaintiff's motion to remand for April 26, 2002.

Another class action is pending in the United States District Court for
the Northern District of California against the Company and certain of
its directors.  The suit alleges the proxy materials filed by the
Company in connection with the merger are false and misleading and fail
to disclose material information in violation of Section 14(a) of the
Securities Exchange Act of 1934, SEC Rule 14a-9. The suit further
alleges that the named Company directors have breached their fiduciary
duties to their stockholders.

In February 2002, defendants moved to dismiss the action, while the
plaintiffs moved for expedited discovery.  On March 1, 2002, the
magistrate judge denied plaintiff's motion and set a hearing on the
defendants' motion to dismiss.

The Company labeled the two suits "without merit" and intends to defend
against the suits vigorously.


LUMENIS LTD.: Wolf Haldenstein Initiates Securities Suit in S.D. NY
-------------------------------------------------------------------
Wolf Haldenstein Adler Freeman & Herz LLP commenced a securities class
action in the United States District Court for the Southern District of
New York, on behalf of purchasers of Lumenis Ltd. (NASDAQ: LUME)
between January 7, 2002 and February 28, 2002, inclusive against the
Company and certain of its officers, including:

     (1) Chairman Jacob Frenkel,

     (2) President/CEO Yacha Sutton, and

     (3) COO Sagi Genger

The suit alleges that defendants violated the federal securities laws
by issuing materially false and misleading statements throughout the
class period that had the effect of artificially inflating the market
price of the Company's securities.

The suit alleges that throughout the class period, defendants
discounted and disputed marketplace rumors about its operations even as
it knew it was being investigated by the SEC and that its distributors
had been contacted by the SEC. Additionally, even after announcing in a
press release that it was subject to an SEC investigation, the Company
continued to hide the fact that it had been aware of the SEC
investigation and had been providing information to the SEC for several
weeks.

On February 28, 2002, the Company revealed the facts concerning the SEC
investigation in a conference call. These shocking revelations caused
the stock to plummet 30% in one day and more than 69% from its class
period high, resulting in damages to plaintiff and members of the
class.

For more details, contact Fred T. Isquith, Michael Miske, George
Peters, Derek Behnke or Gustavo Bruckner by Mail: 270 Madison Avenue,
New York, New York 10016 by Phone: 800-575-0735 or by E-mail:
classmember@whafh.com.  E-mail should refer to LUMENIS.


LUMENIS LTD.: Schiffrin Barroway Commences Securities Suit in S.D. NY
---------------------------------------------------------------------
Schiffrin & Barroway, LLP initiated a securities class action in the
United States District Court for the Southern District of New York on
behalf of all purchasers of the common stock of Lumenis Ltd. (Nasdaq:
LUME) from January 7, 2002 through February 28, 2002, inclusive.

The suit charges the Company and certain of its officers and directors
with issuing false and misleading statements concerning its business
and financial condition. Specifically, the complaint alleges that
defendants violated the federal securities laws by issuing materially
false and misleading statements throughout the class period that had
the effect of artificially inflating the market price of the Company's
securities.

The suit alleges that throughout the class period, defendants
discounted and disputed marketplace rumors about its operations even as
it knew it was being investigated by the SEC and that its distributors
had been contacted by the SEC. Additionally, even after announcing in a
press release that it was subject to an SEC investigation, the Company
continued to hide the fact that it had been aware of the SEC
investigation and had been providing information to the SEC for several
weeks.

On February 28, 2002, the Company revealed the facts concerning the SEC
investigation in a conference call. These shocking revelations caused
the stock to plummet 30% in one day and more than 69% from its class
period high, resulting in damages to plaintiff and members of the
class.

For more information, contact Marc A. Topaz or Stuart L. Berman by
Mail: Three Bala Plaza East, Suite 400, Bala Cynwyd, PA 19004 by Phone:
888-299-7706 (toll free) or 610-667-7706 or by E-mail:
info@sbclasslaw.com


LUMENIS LTD.: Marc Henzel Initiates Securities Fraud Suit in S.D. NY
--------------------------------------------------------------------
The Law Offices of Marc S. Henzel commences a securities class action
in the United States District Court for the Southern District of New
York, on behalf of purchasers of Lumenis Ltd. (Nasdaq: LUME) between
January 7, 2002 and February 28, 2002, inclusive, against the Company
and certain of its officers, including:

     (1) Chairman Jacob Frenkel,

     (2) President/CEO Yacha Sutton, and

     (3) COO Sagi Genger

The complaint alleges that defendants violated the federal securities
laws by issuing materially false and misleading statements throughout
the class period that had the effect of artificially inflating the
market price of the Company's securities.

The complaint alleges that throughout the class period, defendants
discounted and disputed marketplace rumors about its operations even as
it knew it was being investigated by the SEC and that its distributors
had been contacted by the SEC. Additionally, even after announcing in a
press release that it was subject to an SEC investigation, the Company
continued to hide the fact that it had been aware of the SEC
investigation and had been providing information to the SEC for several
weeks.

On February 28, 2002, the Company revealed the facts concerning the SEC
investigation in a conference call. These shocking revelations caused
the stock to plummet 30% in one day and more than 69% from its class
period high, resulting in damages to plaintiff and members of the
class.

For more information, contact Marc S. Henzel by Mail: 273 Montgomery
Ave, Suite 202 Bala Cynwyd, PA 19004-2808 by Phone: 888-643-6735 or
610-660-8000 by Fax: 610-660-8080 by E-mail: Mhenzel182@aol.com or
visit the firm's Web site: http://members.aol.com/mhenzel182.  


LUMENIS LTD.: Cauley Geller Commences Securities Fraud Suit in S.D. NY
----------------------------------------------------------------------
Cauley Geller Bowman & Coates LLP initiated a securities class action
in the United States District Court for the Southern District of New
York on behalf of purchasers of Lumenis Ltd. (Nasdaq: LUME) common
stock during the period between January 7, 2002 through February 28,
2002, inclusive.

The suit charges the Company and certain of its officers and directors
with issuing false and misleading statements concerning its business
and financial condition. Specifically, the complaint alleges that
defendants violated the federal securities laws by issuing materially
false and misleading statements throughout the class period that had
the effect of artificially inflating the market price of the Company's
securities.

The suit alleges that throughout the class period, defendants
discounted and disputed marketplace rumors about its operations even as
it knew it was being investigated by the SEC and that its distributors
had been contacted by the SEC. Additionally, even after announcing in a
press release that it was subject to an SEC investigation, the Company
continued to hide the fact that it had been aware of the SEC
investigation and had been providing information to the SEC for several
weeks.

On February 28, 2002, the Company revealed the facts concerning the SEC
investigation in a conference call. These shocking revelations caused
the stock to plummet 30% in one day and more than 69% from its class
period high, resulting in damages to plaintiff and members of the
class.

For more information, contact Jackie Addison, Sue Null or Shelly
Nicholson by Mail: P.O. Box 25438, Little Rock, AR 72221-5438 by Phone:
888-551-9944 by E-mail: info@classlawyer.com or visit the firm's Web
site: http://www.classlawyer.com


MEDI-HUT CO.: Leo Desmond Commences Securities Suit in S.D. New York
--------------------------------------------------------------------
The Law Offices of Leo W. Desmond initiated a securities class action
on behalf of shareholders who acquired Medi-Hut Co., Inc. (Nasdaq:MHUT)
securities between April 4, 2000 and February 4, 2002, inclusive in the
US District Court for the Southern District of New York against the
Company and:

     (1) Joseph A. SanPietro,

     (2) Laurence M. Simon,

     (3) Robert Russo,

     (4) Vincent J. SanPietro,

     (5) James A. Aaron and

     (6) James S. Vacarro

It is alleged that defendants violated Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 and Rule 10(b)(5) promulgated
thereunder, by issuing a series of materially false and misleading
statements to the market throughout the class period which statements
had the effect of artificially inflating the market price of the
Company's securities.

For more details, contact Leo W. Desmond by Phone: 888-337-6663, 561-
712-8000 by E-Mail:  Info@SecuritiesAttorney.com or visit the firm's
Web site: http://www.SecuritiesAttorney.com



MEDI-HUT CO.: Marc Henzel Commences Securities Fraud Suit in New Jersey
-----------------------------------------------------------------------
The Law Offices of Marc S. Henzel initiated a securities class action
in the United States District Court for the District of New Jersey on
behalf of all purchasers of the common stock of Medi-Hut Co., Inc.
(Nasdaq: MHUT) from April 4, 2000 through February 4, 2002, inclusive.

The suit seeks damages for violations of Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder, against the Company and:

     (1) Joseph A. Sanpietro, President and Chief Executive Officer,

     (2) Laurence M. Simon, Chief Financial Officer,

     (3) Robert Russo, Treasurer,

     (4) Vincent Sanpietro, Secretary,

     (5) James G. Aaron, director, and

     (6) James S. Vacarro, director

The suit alleged that defendants knowingly and recklessly disseminated
materially false and misleading statements and omissions that
misrepresented the Company's business, operations and financial
performance. As stated in the suit, the Company misled the investing
public by failing to disclose that a Company Vice President had a
controlling interest in Larval Corp., its largest customer.

Specifically, the Company failed to disclose that Lawrence Marasco, its
Vice President for Sales and Marketing, had a controlling interest in
Larval. During fiscal year 2001, sales to Larval accounted for 62% of
the Company's revenues.

Because Mr. Marasco had a controlling interest in one of the Company's
customers, generally accepted accounting principles dictated that the
Company identify sales to that customer as related party transactions.
The Company, however, failed to disclose the true nature of its sales
to Larval. Indeed, each report the Company filed with the Securities
and Exchange Commission during the class period, including quarterly
and annual reports, was devoid of any reference to the fact that one of
its largest customers was controlled by a Company employee.  These
reports were disseminated to shareholders and/or were publicly
available to potential investors.

The suit alleges that the misrepresentations and omissions by
defendants influenced the views of stock market analysts and the
investing public and brought about an unrealistic assessment of the
Company's performance and prospects and that, as a result, the
Company's stock traded at artificially inflated prices throughout the
class period.

On February 4, 2002, the nature of the relationship between the
Company, Mr. Marasco and Larval Corp. was revealed. The market,
recognizing that a majority of the Company's revenues in fiscal year
2001 were generated via sales to a related party, reacted swiftly and
severely. By the close of business on February 4, shares of the Company
had lost 51% of their value, falling $3.41 to $3.29 in unusually heavy
trading. Four days later, Grant Thorton LLP resigned its position as
the Company's independent auditor after only two weeks. Grant Thorton
served as the Company's auditors from January 24, 2002 through February
8, 2002.

For more information, contact Marc S. Henzel by Mail: 273 Montgomery
Ave., Suite 202, Bala Cynwyd, PA 19004 by Phone: 610-660-8000 or
888-643-6735 by Fax: 610-660-8080 or by E-Mail: mhenzel182@aol.com       


NVIDIA CORPORATION: Kaplan Fox Initiates Securities Suit in N.D. CA
-------------------------------------------------------------------
Kaplan Fox and Kilsheimer commenced a securities class action against
NVIDIA Corporation (Nasdaq:NVDA) and certain of the Company's officers
and directors in the United States District Court for the Northern
District of California, on behalf of all persons or entities who
purchased or otherwise acquired the Company's common stock between
February 15, 2000 and February 14, 2002, inclusive.

The suit charges the Company and certain of its officers and directors
with violations of the Securities Exchange Act of 1934. The complaint
alleges, among other things, that during the class period defendants
issued a series of false and misleading statements concerning the
Company's financial condition.

In order to overstate revenues in its financial statements, the Company
violated generally accepted accounting principles (GAAP) and SEC rules
by engaging in an improper scheme. As a result of defendants'
misleading statements and accounting improprieties during the class
period, the price of Company stock traded at artificially inflated
prices.

For more information, contact Frederic S. Fox or Hae Sung Nam by Mail:
805 Third Avenue, 22nd Floor, New York, NY 10022 by Phone:
800-290-1952 or 212-687-1980 by Fax: 212-687-7714 or by E-mail address:
mail@kaplanfox.com


PNC FINANCIAL: Kaplan Fox Commences Securities Fraud Suit in S.D. PA
--------------------------------------------------------------------
Kaplan Fox and Kilsheimer LLP initiated a securities class action
against PNC Financial Services Group (NYSE:PNC) and certain of the
Company's officers and directors in the United States District Court
for the Southern District of Pennsylvania, on behalf of all persons or
entities who purchased the Company's common stock between July 19, 2001
and January 29, 2002, inclusive.

The suit charges the Company and certain of its officers and directors
with violations of the Securities Exchange Act of 1934. The complaint
alleges, among other things that during the class period defendants
made false and misleading statements concerning the Company's financial
results for the second, third and fourth quarters of 2001.

Specifically, defendants improperly stated revenues during those
quarters, in violation of generally accepted accounting principles, and
"manipulated" the Company's books in order to report revenues, profits
and growth rates to the investing public throughout 2001.

As a result of defendants' false and misleading statements, and
improper accounting practices during the class period, the price of
Company stock traded at artificially inflated prices.

For more details, contact Frederic S. Fox, Jonathan K. Levine or Adam
W. Walsh by Mail: 805 Third Avenue, 22nd Floor, New York, NY 10022 by
Phone: 800-290-1952 or 212-687-1980 by Fax: 212-687-7714 or by E-mail:
mail@kaplanfox.com



SMARTTALK TELESERVICES: Partial Settlement Approved in Securities Suits
-----------------------------------------------------------------------
Two California courts granted final approval to $15 million partial
settlement of several class actions filed against now-bankrupt SmarTalk
Teleservices, Inc. (formerly Nasdaq: SMTK), certain of its former
officers and directors, and its former independent auditor,
PricewaterhouseCoopers LLP, by stockholders who purchased any Smartalk
security other than 5 3/4% convertible subordinated notes between
August 13, 1997, and January 7, 1999.

The two suits claim that the defendants violated federal securities
laws by issuing inflated and materially overstated financial statements
for the Company during the time period involved.  The suits are
proceeding in both California State Court and Federal Court. Due to
this unusual situation, both courts were required to approve the
settlement in order for it to be effective.

The State Court held a hearing on March 1, 2002, to consider giving
final approval to the settlement, while the Federal Court hearing was
on February 15, 2002.  

The partial settlement is with only PricewaterhouseCoopers.  The
Company was dismissed as a defendant after it filed for bankruptcy
protection in January 1999. The class actions continue against the
Company's former officers and directors.


SYMBOL TECHNOLOGIES: Berman DeValerio Files Securities Suit in E.D. NY
----------------------------------------------------------------------
Berman DeValerio Pease Tabacco Burt and Pucillo initiated a securities
class action against Symbol Technologies, Inc. (NYSE: SBL) for
securities fraud, claiming that the Company artificially inflated its
stock price. The suit was filed in the US District Court for the
Eastern District of New York on behalf of all investors who bought
Symbol stock from October 20, 2000 through February 12, 2002.

The suit charges the Company and three top officers with engaging in
improper accounting practices to keep the Company's financial results
in line with analysts' expectations.  The Company, based in Holtzville,
N.Y., develops and markets mobile and wireless computer devices.

Specifically, the defendants are accused of improperly booking a $10
million royalty payment in the third quarter of 2000 and of improperly
recording more than $40 million in revenue in the first quarter of
2001.

When news of the suspicious accounting practices first emerged in a
February 13, 2002 newspaper article, the price of Company stock quickly
dropped 17%, or $2.50 a share, to $11.70 a share. The following day,
February 14, 2002, the Company announced the abrupt retirement of its
Chief Executive Officer and revealed poor quarterly and annual results.
The company's stock price again fell sharply on the new reports,
closing at $8.40 per share on February 15, 2002.

For further details, contact Sara Davis by Mail: One Liberty Square,
Boston, MA 02109 by Phone: 800-516-9926 by E-mail: law@bermanesq.com or
visit the firm's Web site: http://www.bermanesq.com.   


SYMBOL TECHNOLOGIES: Marc Henzel Initiates Securities Suit in E.D. NY
---------------------------------------------------------------------
The Law Offices of Marc S. Henzel commenced a securities class action
in the United States District Court for the Eastern District of New
York, on behalf of purchasers of the common stock of Symbol
Technologies, Inc. (NYSE: SBL) between October 19, 2000 and February
13, 2002, inclusive, against the Company and certain of its officers.

The suit alleges that defendants violated the federal securities laws
by issuing materially false and misleading statements throughout the
class period that had the effect of artificially inflating the market
price of the Company's securities.

Specifically, the complaint alleges that defendants engaged in these
actions, effectively increasing the Company's reported revenue and
profits:

     (1) the Company booked as profit in the third quarter 2000 a one-
         time royalty payment in excess of $10 million, enabling the
         Company to make its third quarter projections;

     (2) the Company used expenses associated with its acquisition of
         Telxon to mask the fact that its sales were declining; and

     (3) the Company booked as having shipped in the first quarter of
         2001 more than $40 million in inventory that included side
         provisions allowing customers to delay payments or return
         merchandise, or included products that "never left the
         warehouse."  The Company subsequently had a second-quarter
         2001 inventory write-down of $67.1 million after tax.

On February 13, 2002, Newsday, Inc. reported that the Company had
engaged in the above-described accounting practices, received an
inquiry letter from the Securities and Exchange Commission, and had
hired accounting and consulting firm KPMG LLP to review its sales
process. The next day, the Company announced it was lowering its
outlook for 2002 earnings and that its Chief Executive Officer would
retire in May 2002.

In response to the Newsday article and the Company's announcements, the
price of Company stock plunged more than 53% from an opening price of
$14.15 on February 14, 2002 to a low of $6.60 on February 15, 2002 on
unusually heavy trading volume.

For more information, contact Marc S. Henzel by Mail: 273 Montgomery
Ave., Suite 202, Bala Cynwyd, PA 19004 by Phone: 610-660-8000 or
888-643-6735 by Fax: 610-660-8080 or by E-Mail: mhenzel182@aol.com       


SYNSORB BIOTECH: Cauley Geller Commences Securities Suit in S.D. NY
-------------------------------------------------------------------
Cauley Geller Bowman & Coates, LLP initiated a securities class action
in the United States District Court for the Southern District of New
York on behalf of purchasers of SYNSORB Biotech, Inc. (Nasdaq: SYBB)
common stock during the period between April 4, 2001 and December 10,
2001, inclusive.

The suit charges the Company and certain of its officers and directors
with issuing false and misleading statements concerning its business
and financial condition. Specifically, the complaint alleges that
throughout the class period, defendants touted the successful
progression of its SYNSORB Cdr Phase III clinical trials while
concealing from the public that, in fact:

     (1) defendants had "concerns about enrollment;"

     (2) defendants knew that "the completion of the trial would reach
         out years beyond" what they had forecast;

     (3) the FDA had directed defendants to use a more stringent
         protocol in its Phase III trials;

     (4) defendants had repeatedly failed to increase enrollment in the
         Phase III trials during the class period;

     (5) defendants had been experiencing "unacceptably high drop out
         rates;" and

     (6) defendants could not afford to continue to finance the Phase
         III clinical trials.

After the market closed on December 10, 2001, the Company issued a
press release announcing the termination of its SYNSORB Cdr development
program and in a conference call the next morning, revealed the true
facts concerning the Phase III clinical trials. These shocking
revelations made in the press release and in the conference call had a
dramatic effect on the price of Company stock, causing the stock to
plummet over 52% and causing plaintiff and the class to suffer damages.

For more details, contact Jackie Addison, Sue Null or Shelly Nicholson
by Mail: P.O. Box 25438, Little Rock, AR 72221-5438 by Phone:
888-551-9944 by E-mail: info@classlawyer.com or visit the firm's
Website: http://www.classlawyer.com


SYNSORB BIOTECH: Schiffrin Barroway Lodges Securities Suit in S.D. NY
---------------------------------------------------------------------
Schiffrin & Barroway, LLP initiated a securities class action in the
United States District Court for the Southern District of New York on
behalf of all purchasers of the common stock of SYNSORB Biotech, Inc.
(Nasdaq:SYBB) from April 4, 2001 through December 10, 2001, inclusive.

The complaint charges the Company and certain of its officers and
directors with issuing false and misleading statements concerning its
business and financial condition. Specifically, the complaint alleges
that throughout the class period, defendants touted the successful
progression of its SYNSORB Cd(r) Phase III clinical trials while
concealing from the public that:

     (1) defendants had "concerns about enrollment;"

     (2) defendants knew that "the completion of the trial would
         reach out years beyond" what they had forecast;

     (3) the FDA had directed defendants to use a more stringent
         protocol in its Phase III trials;

     (4) defendants had repeatedly failed to increase enrollment in the
         Phase III trials during the class period;

     (5) defendants had been experiencing "unacceptably high drop out
         rates;" and

     (6) defendants could not afford to continue to finance the Phase
         III clinical trials.

After the market close on December 10, 2001, the Company issued a press
release announcing the termination of its SYNSORB Cd development
program and in a conference call the next morning, revealed the facts
concerning the Phase III clinical trials. These shocking revelations
made in the press release and in the conference call had a dramatic
effect on the price of Company stock, causing the stock to plummet over
52% and causing plaintiff and the class to suffer damages.

For more information, contact Marc A. Topaz or Stuart L. Berman by
Phone: 888-299-7706 (toll free) or 610-822-2221 or by E-mail:
info@sbclasslaw.com


TORCH OFFSHORE: Marc Henzel Lodges Securities Fraud Suit in E.D. LA
-------------------------------------------------------------------
The Law Offices of Marc S. Henzel initiated a securities class action
in the United States District Court for the Eastern District of
Louisiana on behalf of all persons who purchased the common stock of
Torch Offshore, Inc. (Nasdaq: TORC) from June 7, 2001 through August 1,
2001, inclusive.  The suit names as defendants the Company, certain of
its officers and directors, and:

     (1) UBS Warburg LLC,

     (2) CIBC World Markets Corp., and

     (3) Howard Weil, a division of Legg Mason Wood Walker, Inc.

The suit alleges that the defendants violated Sections 11 and 15 of the
Securities Act of 1933 by making false and misleading representations
in the June 7, 2001 registration statement and prospectus prepared and
disseminated by defendants in connection with the IPO.  The suit
alleges, among other things, that the prospectus contained material
misrepresentations concerning the prices of natural gas and oil in the
period preceding the IPO, as well as the effect of those prices upon
the Company's business and the demand for its services.

For more information, contact Marc S. Henzel by Mail: 273 Montgomery
Ave., Suite 202, Bala Cynwyd, PA 19004 by Phone: 610-660-8000 or
888-643-6735 by Fax: 610-660-8080 or by E-Mail: mhenzel182@aol.com       


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S U B S C R I P T I O N   I N F O R M A T I O N

Class Action Reporter is a daily newsletter, co-published by
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Beard Group, Inc., Washington, D.C.  Enid Sterling, Aurora Fatima
Antonio and Lyndsey Resnick, Editors.

Copyright 2002.  All rights reserved.  ISSN 1525-2272.

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