NEWSPAPER ARTICLE - ONLY DAYS LEFT FOR SHAREHOLDERS TO RECOVER LOSSES
NEW YORK, Dec. 7, 2012 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, announces that Houston Municipal Employees Pension System ("HMEPS"), the court-appointed lead plaintiff acting on behalf of shareholders in the In re KIT Digital, Inc. Securities Litigation, No. 1:12-cv-04199-VM, that it is preparing a consolidated class action complaint that expands the class period in the action to include recently revealed facts related to KIT Digital's financial accounting problems.
KIT Digital (KITD), a New York-based video management software and services company, and certain of its senior executives, are being charged with artificially inflating the price of KIT Digital stock by issuing materially false and misleading statements, in violation of the federal securities laws.
The consolidated class action complaint will include allegations arising from defendants' alleged false and misleading statements concerning KIT Digital's business operations, financial condition, revenue recognition, internal controls, financial accounting, business integrations, and financial prospects. HMEPS seeks to recover damages on behalf of all class members who purchased or otherwise acquired KIT Digital securities from May 19, 2009 through November 21, 2012.
If you have suffered losses in excess of $150,000 and would like to preserve your rights to obtain a recovery of your damages, please contact us toll free at 877-772-3975