Summary: Check the latest quotes Beijing time October 15 Morning news, U.S. law firm Levi Korsinsky announced in Monday, the company has begun to represent the June 6, 2013 to August 19, 2013 to buy the Orchid Pavilion (NYSE:LITB) stock investors, in New York, USA
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Beijing time October 15 Morning news, U.S. law firm Levi & Korsinsky announced in Monday, the company has begun to represent the June 6, 2013 to August 19, 2013 to buy the Orchid Pavilion (NYSE:LITB) shares of investors, In the United States New York State Southern District Court to start the group lawsuit.
The indictment alleges that the defendant disclosed false and/or misleading statements during the above time, and failed to disclose the following information: (a) The company's sales growth has been significantly reduced in the second quarter of 2013, and (b) the company's costs grew more than sales in the second quarter of 2013; (c) The company has therefore deviated from its orbit, There is no way to implement the guidance forecasts that were released to the market.
August 19, 2013, the Pavilion revealed the financial performance in the second quarter of 2013 was far lower than expected, the company further reported that its products demand far less than the previous statement. The next day, the pavilion was set to fall from $19.27 per share to 11.58 dollars.
Investors with a loss of investment in the pavilion may be able to request the court to appoint him as the chief plaintiff by October 28, 2013, but they will still be compensated for the case even if they do not act as chief plaintiffs.
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