Chitwood Harley Harnes LLP announces that it has filed a lawsuit seeking class action status in the United States District Court for the Eastern District of New York on behalf of all persons (the "Class") who purchased the securities of DHB Industries, Inc., (Amex: DHB) ("DHB" or the "Company") during the period April 21, 2004 and August 29, 2005, inclusive (the "Class Period"). The Defendants are DHB Industries, Inc., David H. Brooks, Sandra Hatfield, Cary L. Chasin, Jerome Krantz, Barry Berkman, Gary Nadelman and Dawn Schlegel. A copy of the complaint will be available on our website, www.chitwoodlaw.com, until expiration of the lead plaintiff deadline, November 8, 2005. If you have questions about this case or your rights as a class member or wish to submit your transaction information to our firm, you may contact us through our website, www.chitwoodlaw.com by clicking on DHB or by emailing Katie King at kking@chitwoodlaw.com or Lauren S. Antonino, Esq. at lantonino@chitwoodlaw.com or by calling 1-888-873-3999 extension 6826 (Ms. King) or 6888 (Ms. Antonino). The Complaint alleges that during the Class Period, DHB violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, SEC Rule 10b-5. The Complaint alleges that defendants' Class Period positive representations regarding DHB's fast-growing business, disseminated in press release and SEC filings, were materially false and misleading because they failed to disclose that a material portion of the Company's bulletproof vests contained a material amount of Zylon fibers whose effectiveness at stopping bullets degraded over time. By the beginning of the Class Period, the Complaint alleges, defendants knew, or recklessly disregarded, that vests containing Zylon could potentially fail to stop bullets because of fiber degradation, and that serious concerns about their use in body armor was growing in the law enforcement community. Defendants, however, failed to warn investors of the palpable and substantial risk that its Zylon products posed to the Company's business. The Complaint charges, inter alia, that: (1) DHB's body armor products were unsafe and defective; (2) despite knowledge of this, the Company continued to falsely represent that its body armor products were safe and of high quality; (3) Defendants knew and/or recklessly disregarded that continued sales of its unsafe and defective body armor products could have a material adverse effect on DHB's finances; and (4) DHB lacked adequate internal controls and, therefore, failed to determine the true financial impact of withdrawal of any of its products. During the Class Period, defendants sold millions of dollars worth of stock in the Company, despite knowledge of the foregoing. On August 30, 2005, the truth began to emerge. DHB announced that it would take a charge of up to $60 million in the third quarter to discontinue production of certain bullet-proof vests because of safety concerns. Following this announcement, shares of DHB, on August 30, 2005, fell $1.56 per share, or 23.42 percent, to close at $5.10 per share on unusually heavy trading volume. If you purchased DHB securities between period April 21, 2004 and August 29, 2005, you may qualify to serve as lead plaintiff on behalf of the Class. All motions for appointment as lead plaintiff must be filed with the Court no later than November 8, 2005. Any member of the proposed Class may move the Court to serve as lead plaintiff in this action through counsel of his or her choice, or may remain an absent class member. There are certain legal requirements to serve as lead plaintiff, which we would be pleased to discuss with you. Chitwood Harley Harnes LLP is a class action firm that concentrates its nationwide practice in representing victims of securities fraud and corporate mismanagement, as well as other complex litigation. Chitwood Harley Harnes has been appointed lead counsel in major actions throughout the United States and has been instrumental in recovering billions of dollars on behalf of its clients. Clients and courts alike have praised the results achieved by Chitwood Harley Harnes. Recently, the federal judge in the BankAmerica Securities Litigation, which resulted in one of the highest recoveries ever in a private securities class action, commented favorably on counsel's performance stating: "Class members were well served by experienced attorneys who, through considerable time and effort, obtained a significant recovery for their clients," and, "(a)s the Court has remarked throughout this litigation, class counsel ... have performed at exceptionally high levels, and all parties have been exceedingly well represented."
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