NEW YORK, Nov. 18, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. has filed a class action lawsuit on behalf of purchasers of common stock and call options and sellers of put options of FAB Universal Corporation (NYSE: FU ) from June 12, 2012 to November 18, 2013, seeking to recover damages for violations of the federal securities laws.
To join the FAB Universal class action, visit the firm's website at http://rosenlegal.com , or call Phillip Kim, Esq. or Kevin Chan, toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The lawsuit is pending in the U.S. District Court for the Southern District of New York.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit claims that FAB Universal and certain of its officers and directors made materially false and misleading statements and/or failed to disclose that: (a) the Company overstated the number of Intelligent Media Kiosks ("Kiosks") deployed in China; (b) its Kiosks were inundated with pirated digital media entertainment, and (c) a Company subsidiary issued RMB 100 million ($16.4 million) in bonds to Chinese investors. According to the Complaint, when these adverse facts entered the market, the value of FAB Universal securities declined, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than January 17, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com . You may also visit the firm's website at http://www.rosenlegal.com .
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Weekend Tel: (917) 562-8616 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 www.rosenlegal.com
