Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Against Sunrise Senior Living,...

PHILADELPHIA -- The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit was commenced in the United States District Court for the District of Columbia, on behalf of purchasers of the common stock of Sunrise Senior Living, Inc. ("Sunrise" or the "Company") (NYSE:SRZ) between August 4, 2005 through and including June 15, 2006, (the "Class Period").

The Complaint alleges that the defendants violated Section 10b-5 of the Securities Exchange Act of 1934 by issuing materially false and misleading statements contained in press releases and filings with the Securities and Exchange Commission ("SEC") during the Class Period. Specifically, the Complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business, its stock option plans, its compensation practices and its financial results. As a result of these false statements, the price of Sunrise's common stock was artificially inflated during the Class Period, during which time the individual defendants took advantage by selling shares of their Sunrise stock for illegal insider trading proceeds of over $34 million, while Sunrise's top officers pocketed millions more in unjustified bonus payments enhanced in part by Sunrise's falsified profits.

On May 9, 2006, Sunrise disclosed a delay in reporting its first quarter 2006 results to allow a review of its financial statements, and on July 31, 2006, Sunrise revealed it would be forced to restate its financial statements going back several years - at least to 1999 - and that its prior financial statements could no longer be relied upon. Sunrise also admitted it could not file current period financial statements for the first, second and third quarters of 2006 and that when it restated its financial results, at least $100 million of previously reported profits from its joint ventures and real estate sales would be eliminated. As these disclosures, Sunrise's stock fell from $39.62 on May 8, 2006 to as low as $24.40 on July 31, 2006.

If you purchased Sunrise securities during the Class Period, you may, no later than March 19, 2007, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth.

If you have sustained substantial losses in Sunrise securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at classaction@srk-law.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time.

If you wish to join this action, please visit http://www.srk-law.com/dbjoinaclassaction.asp. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or via e-mail at classaction@srk-law.com. For more detailed information about the firm please visit its website at http://www.srk-law.com.

Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered through judgments and settlements on behalf of thousands of defrauded shareholders and companies.