SECURITIES FRAUD
 

Securities Class Action Suit Filed Against Ecoscience

The firm of Shapiro Haber & Urmy LLP recently filed a securities class action entitled William F. Smalley, Jr., et. al. v. Ecoscience Corporation, et. al. in the United States District Court for District of Massachusetts against ECOSCIENCE CORPORATION, AGRO POWER DEVELOPMENT, INC., AGRO ACQUISITION CORPORATION.

This case was filed on behalf of all persons or entities who were shareholders of the Defendant, EcoScience Corporation ("EcoScience" or the "Company") (excluding the Defendants, their affiliates and their families) on July 31, 1998 (the "Record Date") and/or at the time of the merger of EcoScience and Agro Power Development, Inc. ("APD") on September 30, 1998 (the "Merger")

Defendants completely omitted from the Proxy Statement material information regarding the disastrous financial performance of APD during the three months ended June 30, 1998. That information was known to each of the Defendants, or but for their reckless indifference to the truth and/or their reckless failure to become informed, would have been known to them, when the Proxy Statement was filed on August 10, 1998, and at the time of the September 10, 1998 shareholders meeting.

If you have any questions regarding this case or your rights or interests, please contact Edward F. Haber, Esq., or Allison Newman, Legal Assistant, Shapiro Haber & Urmy LLP, 53 State Street, Boston, Massachusetts 02109, by calling (800) 287-8119, by sending a facsimile to (617) 439-0134, or by sending an email to cases@shulaw.com.