SOURCE: Sarraf Gentile LLP

April 28, 2005 18:46 ET

Sarraf Gentile LLP Announces Class Action Lawsuit Against William Lyon Homes and Its Directors

NEW YORK, NY -- (MARKET WIRE) -- April 28, 2005 -- The Law Firm of Sarraf Gentile LLP today announced that a class action has been commenced on behalf of minority shareholders of William Lyon Homes ("WLS" or the "Company") (NYSE: WLS).

The case is pending in the Court of Chancery of the State of Delaware against the Company and its directors. The action seeks to enjoin the defendants from causing the Company to be acquired by its controlling shareholder, Chairman of the Board and CEO, for inadequate consideration. The suit alleges that the consideration being offered in the buyout fails to offer fair value to the Company's shareholders for their equity interests in WLS.

If you are a current shareholder of WLS and want to discuss your legal rights, you may e-mail or call Sarraf Gentile LLP who will, without obligation or cost to you, attempt to answer your questions. Sarraf Gentile LLP is active in major class action litigations pending across the nation. You may contact Sarraf Gentile LLP at 111 John Street, 8th Floor, New York, New York, by email at joseph@sarrafgentile.com or by calling 212/433-1312.

Contact Information