SHIPPING FIRM ACLN SUED FOR ALLEGED MISLEADING INFORMATION

SHIPPING FIRM ACLN SUED FOR ALLEGED MISLEADING INFORMATION    Shareholders of ACLN, Ltd., represented by the three legal firms of Weiss & Yourman, Rabin & Peckel LLP and Milberg Weiss, have announced class action suits against ACLN, a shipping line and automobile seller in the U.S./West Africa and Europe/West Africa trades, for allegedly violating Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
   Weiss & Yourman charged that defendants, including the company and some of its officers and directors, issued false and misleading statements. The law firm filed a securities class action on behalf of stockholders in California federal court.
   Rabin & Peckel has filed a class action complaint in the United District Court for the Southern District of New York.
   ACLN, listed on the New York Stock Exchange, has seen its stock price plunge from $50 in September 2001 to $10.66 on Thursday (Dec. 27).
   The management of ACLN, based in Antwerp, was not available to comment on Friday. However, wire reports on Dec. 21 said that the company denied there were inconsistencies in its financial reports.