CKC Collins & Aikman Corp

Wolf Haldenstein Adler Freeman & Herz LLP Commences Class Action Lawsuit on Behalf of Investors in Collins & Aikman Corporation NEW YORK, May 24 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court for the Southern District of New York, on behalf of all persons who purchased the securities of Collins & Aikman Corporation ("Collins & Aikman" or the "Company") (NYSE:CKC) between May 15, 2003 and March 17, 2005, inclusive, (the "Class Period") against defendants Jerry L. Monsingo, David A. Stockman, J. Michael Stepp, and Bryce Koth, officers of the Company during the Class Period. The case name is Egleston v. Monsingo., et al. A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at http://www.whafh.com/. The complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of the Company's securities. The complaint further alleges that during the Class Period, statements made by defendants were materially false and misleading when made because they failed to disclose and/or misrepresented the following adverse facts, among others: (1) that the Company improperly accounted for certain supplier rebates; (2) that the Company's financial statements required net adjustments of approximately $10-$12 million; (3) that the Company's financial statements were not prepared in accordance with GAAP; (4) that the Company lacked adequate internal controls and was therefore unable to ascertain the true financial condition of the Company; and (5) that as a consequence of the foregoing, the Company's net income and financial results were materially overstated. If you purchased Collins & Aikman securities during the Class Period, you may request that the Court appoint you as lead plaintiff by June 6, 2005. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action. Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 60 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Fred Taylor Isquith, Esq., Gustavo Bruckner, Esq., or Derek Behnke), via e-mail at or visit our website at http://www.whafh.com/. All e-mail correspondence should make reference to Collins & Aikman. DATASOURCE: Wolf Haldenstein Adler Freeman & Herz LLP CONTACT: Fred Taylor Isquith, Esq., Gustavo Bruckner, Esq., or Derek Behnke, all of Wolf Haldenstein Adler Freeman & Herz LLP, 1-800-575-0735, Web site: http://www.whafh.com/

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