LOS ANGELES--(BUSINESS WIRE)--
Glancy Binkow & Goldberg LLP reminds investors of GrowLife, Inc. (“GrowLife” or the “Company”) (OTC BB:PHOT) that all purchasers of GrowLife securities between November 14, 2013 and April 9, 2014, inclusive (the “Class Period”), have until June 17, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
GrowLife manufactures and supplies plant growing systems, branded equipment and expendables, primarily for cultivation of medical marijuana, in the United States. The Complaint alleges that throughout the Class Period defendants issued false and misleading statements or failed to disclose that: (1) the Company had provided inaccurate and/or inadequate information about its stock and engaged in potentially manipulative transactions; (2) the Company lacked adequate internal and financial controls; and (3) as a result, the Company’s financial statements were materially false and misleading at all relevant times.
On April 10, 2014, the Securities and Exchange Commission announced that it was temporarily suspending trading of GrowLife securities until April 29, 2014. According to a statement issued by the SEC, trading of the Company’s securities was suspended “because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in [the Company’s] common stock.”
If you are a member of the Class described above, you may move the Court no later than June 17, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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