Medi-Hut Co. Inc. Securities Litigation

To all persons and entities who purchased or otherwise acquired one or more shares of stock of Medi-Hut Company, Inc. ("Medi-Hut") during the time period from October 7, 1999 through August 19, 2003, inclusive (the "Class Period") and who were damaged thereby.

The proposed Gross Settlement Fund is $400,000 plus 861,990 shares of Medi-Hut stock ("Settlement Stock"). Lead Counsel proposes attorneys' fees of 30% of the Gross Settlement Fund, along with reimbursement of reasonable expenses and administration costs. Lead Counsel believes this Settlement is in the best interests of the Class considering the financial condition of Medi-Hut and the significant risk that a larger cash settlement would drive Medi-Hut into bankruptcy and leave the Class with little or no recovery.

The Lead Plaintiff is Ann Smith. She purchased shares of Medi-Hut stock during the period from October 7, 1999 through August 19, 2003, inclusive. On February 28, 2002, the first of ten (10) class action lawsuits was filed against Defendants Medi-Hut, Joseph A. Sanpietro, Laurence M. Simon, Robert Russo and Vincent J. Sanpietro ("Defendants"), alleging securities fraud. The lawsuit is pending in the United States District Court for the District of New Jersey before United States District Judge Stanley C. Chesler ("Judge Chesler"). Ann Smith filed one of the lawsuits asserting her own individual claims and seeking to represent a class of persons who have similar claims, and was appointed Lead Plaintiff.

Read More

Contact us for more information