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Federman Sherwood, the US law firm, has been known to initiate a class action against the company

Source: Internet
Author: User
Keywords Orchid Pavilion Collection potential class action
Tags class class action company district court false statements filed group market
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NYSE:LITB said today that Federman & Sherwood, the US law firm, has been known to initiate a group action against the company.

Federman & Sherwood said in Tuesday that it had filed a class action against the pavilion in the U.S. District Court in the south of New York, accusing the Orchid pavilion of violating the U.S. Securities Act of 1934, such as market-oriented publishing of a series of materials or false statements, so that in the collective litigation period ( From June 6, 2013 to August 19, 2013, the impact of artificially inflated market prices was created.

The pavilion said today that the allegations had been evaluated and that they were unfounded. In this respect, the pavilion will be with the company legal Counsel Simpson Thacher & Bartlett LLP Strong defense of their own interests.

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