Weinstein Kitchenoff Scarlato & Goldman Ltd. Announces Class Action Lawsuit against DaimlerChrysler AG

7 December 2000
Weinstein Kitchenoff Scarlato & Goldman Ltd. Announces Class Action Lawsuit against DaimlerChrysler AG
    PHILADELPHIA, Dec. 7 Weinstein Kitchenoff Scarlato &
Goldman Ltd. announces that a class action lawsuit has been commenced on
behalf of investors who held shares of Chrysler Corporation ("Chrysler") stock
on August 6, 1998 and exchanged those shares for shares of DaimlerChrysler AG
("DaimlerChrysler") as a result of a merger (the "Merger") between Chrysler
and Daimler-Benz AG ("Daimler-Benz").  The action was filed in the United
States District Court for the District of Delaware.
    The complaint charges DaimlerChrysler, Daimler-Benz, and Juergen Schrempp,
the co-chairman and co-chief executive officer of DaimlerChrysler, with
violations of the federal securities laws by, among other things, making
materially false and misleading statements.  Among other allegations, the
complaint asserts that the defendants misrepresented in publicly-filed
documents that (a) the proposed Merger would be a "merger of equals" to be
structured and maintained to protect Chrysler's interests, autonomy, and
relative influence within DaimlerChrysler; and (b) pursuant to the Merger,
Chrysler stockholders would receive fair value for their Chrysler
stockholdings in the form of DaimlerChrysler stock.  The complaint further
alleges that defendants knew and concealed that they had already decided to
take total control of Chrysler, diminish or eliminate the influence that
Chrysler management had in the affairs of DaimlerChrysler, and to reduce
Chrysler's status from that of an "equal" to that of a "division," thereby
causing damage to the plaintiff and the members of the proposed class.
    If you held shares of Chrysler common stock on August 6, 1998 and
exchanged those shares for shares of DaimlerChrysler as a result of the
Merger, and if the Court certifies the Class as defined in the Complaint, you
are a member of the proposed class and need do nothing further at this time.
    You have two other options. You may choose to file your own Action, or you
may seek to serve as a Lead Plaintiff.  Lead Plaintiffs must meet certain
legal requirements.  Lead Plaintiffs are selected by the Court, and are
responsible for overseeing the prosecution of the Action and ensuring that the
interests of the Class are protected.  Courts often select shareholders who
have sustained large losses to serve as Lead Plaintiffs.  Anyone wishing to
serve as Lead Plaintiff must file a motion with the court by no later than
January 29, 2001.
    Any persons interested in learning more about the action, the role of a
Lead Plaintiff or in serving as a Lead Plaintiff in this securities class
action, may contact Robert S. Kitchenoff, Esq., or Kellie A. Allen, Esq., toll
free at 888-545-7201 or by e-mail at rkitchenoff@wksg.com or kaallen@wksg.com.
    The attorneys at Weinstein Kitchenoff Scarlato & Goldman Ltd. of
Philadelphia, PA are experienced in representing defrauded investors in class
actions in courts throughout the United States.  Weinstein Kitchenoff Scarlato
& Goldman Ltd. has achieved a total of more than $1 billion in recoveries for
investors, consumers, and other victims of unlawful conduct.