. . . ... - ,- - - .- . . . .... 1
UNITED STATES DISTRICT COURT
FOR WESTERN DISTRICT OF PENNSYLVANIA
)
TAYLOR CAPITAL MANAGEMENT,
Individually And On Behalf Of All Others Similarly ) CASE NO.
Situated, )
1
Plaintiff, )
) CLASS
vs.
)
RENT-WAY, INC., WILLIAM E. )
MORGENSTERN, WILLIAM A. MCDONNELL, )
JEFFREY A. CONWAY and MATTHEW J. 1
M=, )
) JURY
Defendants. 1 )
BASIS OF ALLEGATIONS
1. Plaintiff has alleged the following based upon the
counsel, which included a review of United States Securities and Exchange Commission ("SEC")
filings by Rent-Way, Inc. ("Rent-Way"
or the "Company"), as well
securities analysts reports and advisories about the Company, press releases and other public
statements issued by the Company, and media reports about the Company,
at
substantial additional evidentiary support will exist for the allegations set forth herein after
reasonable opportunity for discovery.
NATURE OF THE ACTION
2. This is a federal class action on behalf of
Way between January 18,2000, and October 30,2000, inclusive (the "Class Period"), seeking to
SNIPPETS:
which included a review of United States Securities and Exchange Commission
filings by Rent-Way, Inc. ("Rent-Way"
securities analysts reports and advisories about the Company,
statements issued by the Company, and media reports about the Company,
reasonable opportunity for discovery.
pursue remedies under the Securities Exchange Act of 1934.
by the Securities and Exchange Commission [17 C.F.R. 0 240.1Ob-51.
This Court has jurisdiction over the subject matter of this action pursuant to
tion of materially false and misleading information, occurred in substantial part in this
defendants maintain their chief executive offices and principal place
Plaintiff Taylor Capital Management, as set forth in the accompanying
Company's public filings, press releases and other publications as alleged herein are the
common stock was, and is, registered with the SEC pursuant to the Exchange Act, traded on the
and future business prospects, and to correct any previously-issued statements that had become
artificially inflated prices.
officers and directors of the Company, at all relevant times, members of their immediate
Class and has retained counsel competent and experienced in class and securities litigation.
is investigating certain accounting matters, including possible accounting irregularities,
Based on its preliminary investigation to date, however, Rent-Way expects these
In the opinion of management, all adjustments (which, except as discussed herein consist of
On October 30,2000, Rent-Way shocked the market by announcing that "it
At all relevant times,, the material misrepresentations and omissions particularized in this
Rent-Way was followed by several securities analysts employed by
Plaintiff repeats and realleges each and every allegation contained above as
untrue statements of material fact and/or omitted to state material facts necessary to make
dissemination of information to the investing public which they knew or recklessly
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