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

June 16, 2005 18:50 ET

Law Offices Of Charles J. Piven, P.A. Announces Class Action Lawsuit Against Lazard Ltd. and Goldman Sachs & Co. in Connection With Lazard's Initial Public Offering

BALTIMORE, MD -- (MARKET WIRE) -- June 16, 2005 -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Lazard Ltd. (NYSE: LAZ) pursuant and/or traceable to the Company's false and misleading Registration Statement and Prospectus issued in connection with the initial public offering of Lazard shares, together with those who purchased their shares in the open market between May 4, 2005 and May 12, 2005, inclusive (the "Class Period").

The case is pending in the United States District Court for the Southern District of New York against defendant Lazard, Goldman Sachs & Co. and one or more of Lazard'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 August 15, 2005 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 Lazard Ltd. during the Class Period indicated and want to discuss your legal rights, you may email 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 or by calling 410/986-0036.

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