SOURCE: Law Offices Of Charles J. Piven, P.A.

November 25, 2005 12:05 ET

Law Offices Of Charles J. Piven, P.A. Announces Class Action Lawsuit Against Blockbuster, Inc. -- BBI

BALTIMORE, MD -- (MARKET WIRE) -- November 25, 2005 -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action was commenced on behalf of all those who acquired shares of Blockbuster, Inc. ("Blockbuster" or the "Company") (NYSE: BBI) pursuant to the Company's exchange offer of Viacom, Inc. stock for 144 million common shares of Blockbuster, and on behalf of those who purchased, converted, exchanged or otherwise acquired the common stock of Blockbuster in the open market between September 8, 2004 and August 9, 2005, inclusive (the "Class Period").

The case is pending in the United States District Court for the Northern District of Texas against defendant Blockbuster, Viacom, Inc., National Amusements, Inc. (Viacom's controlling shareholder) and certain of Viacom's and Blockbuster's officers and/or directors. The action charges that defendants violated federal securities laws 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.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the proposed class, you may move the court no later than January 9, 2006 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the proposed class you need not take any action at this time, and you may retain counsel of your choice.

If you acquired shares of Blockbuster, Inc. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Charles J. Piven has been involved in securities litigation for approximately 20 years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/986-0036.

Contact Information

  • CONTACT:
    Law Offices Of Charles J. Piven, P.A.
    Baltimore, Maryland
    Charles J. Piven
    410/986-0036
    Email Contact