SOURCE: Berger & Montague, P.C.

November 14, 2005 11:06 ET

Berger & Montague, P.C. Announces Certification of Adams Golf Class Action Lawsuit

PHILADELPHIA, PA -- (MARKET WIRE) -- November 14, 2005 -- The following was released today by Berger & Montague, P.C. ( :


If you bought Adams Golf Stock (OTC BB: ADGO) between July 10, 1998 and October 22, 1998, an ongoing class action lawsuit may affect your rights.

The United States District Court for the District of Delaware has certified a Class in a class-action lawsuit against Adam's Golf, Inc. and some of its officers, directors and underwriters concerning alleged misstatements and omissions in Adams Golf's Registration Statement for its initial public offering ("IPO") in July 1998.

Who Is Included?

If you bought Adams Golf Common Stock between July 10, 1998 and October 22, 1998 you may be part of the Class, unless you are a defendant in the lawsuit or related to a defendant.

Who Represents the Class?

The Class representatives are John Morrash, Kenneth Shockley, Todd Tonore and Patricia Craus. They each bought Adams Golf stock in the class period. Lead Counsel for the Class is Berger & Montague, P.C. 1622 Locust Street, Philadelphia, PA 19103.

What is the Lawsuit About?

The lawsuit claims that the Registration Statement of the IPO failed to disclose the risk that "gray marketing" could pose to Adams Golf's sales. "Gray Marketing" is the unauthorized distribution of a company's products to discount retailers. Adams Golf and the other defendants deny that they failed to disclose any material risks, made any material misrepresentations in or omitted any material facts from the Registration Statement. The Court has made no decision about which side is right.

What Are My Choices?

If you stay in the lawsuit, as a Class Member, and if the lawsuit is successful, you maybe able to get a payment. If the lawsuit is unsuccessful, you will not be able to file your own suit against Adams Golf. In other words you will be "legally bound" by the result in the class action. If you remain in the Class, you will not have to pay attorneys' fees or costs, no matter what the result.

Although it is not necessary, you may hire a lawyer, at your own expense, to enter your appearance in this lawsuit.

You may decide to opt out of or exclude yourself from the Class. If you exclude yourself from the Class, you will not receive any part of any settlement or judgment reached by the Class, but you will not be legally bound if the class action is unsuccessful.

What Do I Need To Do?

If you want to stay in the class you do not need to do anything. It is advisable that you save confirmation slips, brokerage statements or other evidence that you bought Adams Golf stock between July 10, 1998 and October 22, 1998. If you want to hire your own lawyer, you may enter an appearance in the class action.

If you want to be excluded or opt out of the class you must request exclusion by January 2, 2006. To be excluded you must write to In Re: Adams Golf Securities Litigation, c/o Heffler, Radetich & Saitta, LLP, P.O. Box 660, Philadelphia, PA 19105-0660. You must state: a) the full name, address and telephone number of the beneficial owner of the Adams Golf stock; b) the number of shares of Adams Golf stock bought or sold by the beneficial owner during the class period; and c) the date(s) on which the stock was bought and sold.

Where Do I Go For Information?

If you want information or have questions you may write to the above address to get a full notice or you may contact Lead Counsel, Todd S. Collins, Esquire, Elizabeth W. Fox, Esquire or Neil F. Mara, Esquire, Berger & Montague, P.C., 1622 Locust Street, Philadelphia, PA 19103, telephone 1-800-424-6690.

Please do not contact the Court about the lawsuit.

Contact Information

  • Contact:
    Lead Counsel, Todd S. Collins, Esquire
    Elizabeth W. Fox, Esquire
    Neil F. Mara, Esquire
    Berger & Montague, P.C.
    1622 Locust Street
    Philadelphia, PA 19103