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Lawsuits Multiply
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Business New Haven
12/29/1997
By: Russell Stone
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NORWARK - Troubled Oxford Health (NASDAQ: OXHP), which has lost $55 per share in value since October 24 on news of worse-than-expected results and higher-than-expected expenses, now has still more problems to deal with. As was predictable after such a dramatic fall in the company's share price, numerous law firms specializing in shareholder lawsuits have filed class-action complaints against Oxford Health and the firm's officers. Firms involved include Stull, Stull & Brody; Barrack, Rodes, & Bacine; Wolf Popper LLP; Kaplan, Kilsheimer & Fox; Zwerling, Schachter & Zwerling LLP; Bernstein, Liebhard, & Lifshitz; Berman, DeValerio & Pease LLP; Cohen, Milstein, Hausfeld & Toll PLLC, an honor roll of firms handling shareholder lawsuits. The suits allege that Oxford's officers deliberately withheld information on the true state of the company's finances while selling substantial quantities of their own holdings at pre-crash prices.
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