JWL Whitehall Jewel

Spector, Roseman & Kodroff, P.C. Announces the Filing of a Class Action Suit Against Whitehall Jewellers, Inc. PHILADELPHIA, Feb. 23 /PRNewswire/ -- The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit was commenced in the United States District Court for the Northern District of Illinois, on behalf of purchasers of the common stock of Whitehall Jewellers, Inc. ("Whitehall" or the "Company") between November 19, 2001 through December 10, 2003, inclusive (the "Class Period"). The Complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements contained in press releases and filings with the Securities and Exchange Commission during the Class Period relating to Whitehall, a specialty retailer of fine jewelry. Specifically, the Complaint alleges that during the Class Period, defendants caused Whitehall's shares to trade at artificially inflated levels through the issuance of false and misleading financial statements. As a result of this inflation, defendants were able to complete an insider trading scheme, raising proceeds of $5.3 million. On November 6, 2003, it was announced that Whitehall had received a subpoena from the U.S. Securities and Exchange Commission as part of a formal investigation into a complaint that Whitehall aided a former supplier in an accounting fraud. On December 11, 2003, it was announced that Whitehall had fired its Chief Financial Officer and would delay reporting results for its fiscal third quarter, and later that month that Whitehall would be restating its financial statements for fiscal 2000, 2001 and 2002, including the 2002 quarters then ended, and the first two quarters ended July 31, 2003. If you purchased Whitehall securities during the Class Period, you may, no later than April 12, 2004, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth. If you have sustained substantial losses in Whitehall securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time. If you wish to join this action, please visit http://www.srk-law.com/dbjoinaclassaction.asp. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or via e-mail at . For more detailed information about the firm please visit its website at http://www.srk-law.com/. Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered on behalf of thousands of defrauded shareholders and companies. DATASOURCE: Spector, Roseman & Kodroff, P.C. CONTACT: Robert M. Roseman, Spector, Roseman & Kodroff, +1-888-844-5862 Web site: http://www.srk-law.com/

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