| Notice
to Amway Asia Pacific Ltd. Shareholders NEW YORK, Dec.
16 PRNewswire
YOU ARE HEREBY NOTIFIED that a
class action has been commenced in the United States District
Court for the Southern District of New York on behalf of all
persons who held shares of Amway Asia Pacific Ltd. ("AAP")
(NYSE: AAP) (ASX: AMW)
common stock on November 18, 1999, and their successors in
interest (the "Class Period").
In brief, the Complaint charges
that AAP, New AAP Limited, and certain of their officers and
directors, and Goldman, Sachs & Co. violated the federal
securities laws. The Complaint alleges that the November
18, 1999 tender offer materials filed with the Securities and
Exchange Commission ("SEC") and publicly disseminated
in connection the tender offer by New AAP Limited for the
outstanding shares of AAP's common stock at $18.00 per share,
were materially false and misleading. Among other things,
the tender offer materials presented the $18.00 per share as
fair to the AAP minority shareholders despite defendants'
failure to consider the impact on AAP of a November 15, 1999
breakthrough agreement pursuant to which the U.S. is supporting
China's entry into the World Trade Organization ("WTO").
As stated in the Complaint, AAP's business is greatly influenced
by Chinese business and Chinese business conditions.
Simultaneous with the tender
offer for outstanding shares of AAP, N.A.J. Co., Ltd., offered
to purchase the outstanding public shares of Amway Japan Ltd.
(NYSE: AJL) (TOKYO
OTC:9821). Plaintiff seeks an injunction
or to recover damages on behalf of himself and all other Class
members, excluding the defendants and their affiliates.
Plaintiffs are represented by Abbey, Gardy & Squitieri, LLP
and Krislov & Associates, Ltd, law firms with extensive
experience in prosecuting class actions, and significant
expertise in actions involving corporate fraud.
If you are a member of the class
described above, you may, not later than sixty (60) days after
December 16, 1999, move the court to serve as lead plaintiff of
the class, if you so choose. In order to serve as lead
plaintiff, however, you must meet certain legal requirements.
If you wish to discuss this action, or have any questions
concerning this notice or your rights or interests, please
contact:
Clinton A. Krislov (Clint@krislovlaw.com)
William M. Sweetnam (Clint@krislovlaw.com)
KRISLOV & ASSOCIATES, LTD.
312-606-0500
Corporate
Cases
Sullivan & Long,
Inc. v. Scattered Corp., 47 F.3d 857, Fed. Sec. L. Rep. P 98,617 (7th Cir.(Ill.), Feb
08, 1995) (NO. 94-2015). Producers case. Posner opinion, rejecting notion that massive
short sale could be considered as offering.
Malone v. Brincat, 722 A.2d 5 (Del.Supr.,
Dec 18, 1998) (NO. 459, 1997). Fiduciary Duties of Corporate Directors.
Weinberger v. Great Northern Nekoosa Corp., 801
F.Supp. 804, Fed. Sec. L. Rep. P 96,958 (D.Me., Jul 30, 1992) (NO. CIV. 89-0270-P-C, CIV.
89-0273-P-C, CIV. 89-0291-P-C)
Prudential Cases
Global Civil RICO case in which Krislov firm blocked unfair
settlement, then uncovered evidence of core wrongdoing against Prudential's marketing
& sale of limited partnerships to middle-income investors. Recoveries exceed $500
million.
In re Prudential Securities Inc. Ltd. Partnerships
Litigation, 930 F.Supp. 68, 65 USLW 2004, Fed. Sec. L. Rep. P 99,253, RICO
Bus.Disp.Guide 9074 (S.D.N.Y., Jun 10, 1996) (NO. M-21-67 (MP), MDL 1005). Upholding civil
RICO complaint against Polaris Aircraft Leasing Operator of Certain Partnerships.
In re Prudential Securities Inc. Ltd. Partnerships Litigation, 912 F.Supp. 97
(S.D.N.Y., Jan 24, 1996) (NO. 1005, M-21-67 (MP), 53). Fee award of $29.7 million on $110
million settlement recovery from Prudential Securities.
In re Prudential Securities Inc. Ltd. Partnerships Litigation, 163 F.R.D. 200,
Fed. Sec. L. Rep. P 98,915 (S.D.N.Y., Aug 29, 1995) (NO. 1005 M-21-67 (MP)). Certification
of temporary settlement class and preliminary approval of $110 million settlement.
In re Prudential-Bache Energy Income Partnerships Securities Litigation, 1995 WL
700216 (E.D.La., Nov 28, 1995) (NO. MDL A. 888). Refusal of opt out.
In re Prudential-Bache Energy Income Partnerships Securities Litigation, 1995 WL
732783 (E.D.La., Nov 28, 1995) (NO. MDL A. 888). Refusal of opt out.
In re Prudential-Bache Energy Income Partnerships
Securities Litigation, 1995 WL 613119 (E.D.La., Oct 16, 1995) (NO. MDL A. 888)
In re Prudential-Bache Energy Income Partnerships Securities Litigation, 1995 WL
354849 (E.D.La., Jun 12, 1995) (NO. MDL 888)
In re Prudential-Bache Energy Income Partnerships Securities Litigation, 1995 WL
263879 (E.D.La., May 04, 1995) (NO. MDL 888)
In re Prudential-Bache Energy Income Partnerships Securities Litigation, 1995 WL
20613 (E.D.La., Jan 06, 1995) (NO. CIV. A. MDL-0888)
In re Prudential-Bache Energy Income Partnerships Securities Litigation, 1995 WL
8007 (E.D.La., Jan 03, 1995) (NO. CIV. A. MDL-0888)
In re Prudential-Bache Energy Income Partnerships Securities Litigation, 1994 WL
202394 (E.D.La., May 18, 1994) (NO. 888). Award of fees to counsel. Krislov firm acted as
lead counsel for objectors.
In re Prudential-Bache Energy Income Partnership Securities Litigation, 1994 WL
150742 (E.D.La., Apr 13, 1994) (NO. MDL 888). First partial finding on fees.
In re Prudential-Bache Energy Income Partnerships
Securities Litigation, 1994 WL 86682 (E.D.La., Mar 07, 1994) (NO. MDL 888). Intent to
award percentage.
In re Prudential - Bache Energy Income Partnerships
Securities Litigation, 1993 WL 543035 (E.D.La., Dec 22, 1993) (NO. MDL 888)
In re Prudential-Bache Energy Income Partnerships Securities Litigation, 815
F.Supp. 177 (E.D.La., Feb 19, 1993) (NO. MDL 888). Deferral of approval.
In re Prudential-Bache Energy Income Partnerships
Securities Litigation, 1992 WL 142575 (E.D.La., Jun 09, 1992) (NO. CIV. A. MDL 888)
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