Philadelphia, Pennsylvania
February 3, 1999Savett Frutkin Podell
& Ryan, P.C. hereby gives notice that a class action complaint has been filed in the
United States District Court for the Southern District of New York on behalf of a Class of
persons who purchased the securities, including options, of AgriBioTech, Inc. (NASDAQ: ABTX ; AgriBioTech`` or
the ''Company``) at artificially inflated prices during the period October 8, 1998 through
January 22, 1999 (the ''Class Period``) and who were damaged thereby.
The Complaint alleges that defendants, AgriBioTech and its Chairman and Chief Executive
Officer, Johnny R. Thomas, violated the federal securities laws (Section 10(b) and 20(a)of
the Securities Exchange Act of 1934) by misrepresenting or failing to disclose material
information about the status of AgriBioTech's efforts to find a buyer for the company,
including the possible price range and time frame.
As a result of defendants' false and misleading statements and omissions, the price of
AgriBioTech's securities were artificially inflated during the Class Period. On January
22, 1999, after the close of trading, the Company announced that it had abandoned its
efforts to find a buyer and would only continue to make acquisitions on an ``opportunistic
basis.''
Savett Frutkin Podell & Ryan, P.C. has extensive experience representing shareholders
in class
actions and has successfully recovered hundreds of millions of dollars for defrauded
investors and
shareholders.
The reputation and expertise of the firm in shareholder and other class action litigation
has been
repeatedly recognized by the courts, which have appointed the firm to major positions in
complex
class action litigations.
Any member of the proposed Class who desires to be appointed lead plaintiff in this action
must file a motion with the Court no later than sixty (60) days from January 25, 1999 or
March 26, 1999. Class members must meet certain legal requirements to serve as a lead
plaintiff.
If you purchased AgriBioTech (ABTX) securities during the Class Period or have questions
or
information regarding this action or your rights, you may call or write:
CONTACT: Barbara A. Podell, Esquire
SAVETT FRUTKIN PODELL & RYAN, P.C.
325 Chestnut Street, Suite 700
Philadelphia, PA 19106
Telephone: (800) 993-3233
E-mail: sfprpc@op.net
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