NEW YORK -- Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court for the Western District of Virginia, on behalf of purchasers of the securities of Optical Cable Corporation ("OPTICAL" or the "Company") [Nasdaq: OCCF] between July 31, 2000, and October 8, 2001, inclusive, [the "Class Period"] against defendants OPTICAL, its President and CEO Robert Kopstein ["Kopstein"] and certain of its officers. The case name and index number are Yeatts v. Optical et al, (7:02-CV-00088). A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at http://www.whafh.com. The complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements throughout the Class Period. Specifically, the complaint alleges that the Company issued false and misleading statements to the public about the business and financial health of OPTICAL prior to and during the Class Period, yet failed to disclose to the investing public defendant Kopstein's use of his stock as collateral for margin loans with various brokerage accounts he maintained to speculate in technology stocks. Given Kopstein's control of 96% of the Company's common stock, his use of his OPTICAL stock as collateral created a significant risk that large numbers of these shares could be seized and sold on the open market by brokerage firms to cover Kopstein's trading losses. According to the complaint, Kopstein had been cautioned by at least one brokerage firm not to speculate by borrowing money against his OPTICAL stock to invest in other technology company securities. Kopstein's speculation in other technology companies' securities led to the margin calls which then resulted in significant losses to the plaintiffs when the brokerage firms seized Kopstein's OPTICAL stock and dumped millions of shares on the market at the same time, resulting in the severe depression of the Company's stock price.