BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Emerson Radio Corp. (“Emerson” or the “Company”) (NYSE MKT:MSN) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company concerning Emerson’s business, operations and financial condition.
Emerson, together with its subsidiaries, designs, imports, markets, sells and licenses housewares and consumer electronic products under the Emerson and HH Scott brand names, in the United States and internationally. On July 16, 2013, the Company filed with the Securities and Exchange Commission an annual report on Form 10-K for the Company’s fiscal year ended March 31, 2013. According to the Form 10-K, on May 31, 2011, the High Court of Hong Kong appointed Fok Hei Yu (also known as Vincent Fok), a current director of Emerson, and Roderick John Sutton, both of FTI Consulting (Hong Kong) Limited, as Joint and Several Provisional Liquidators over The Grande Holdings Limited (“Grande”). Grande is a Bermuda corporation and Emerson’s controlling shareholder, which purportedly controls 15,243,283 shares – approximately 56% of the Company’s outstanding common stock.
The investigation is related to certain statements in the Form 10-K, and whether the Form 10-K was materially misleading or failed to disclose material information. Specifically, the investigation concerns whether, as stated in the Form 10-K, the Provisional Liquidators are “obligated” to liquidate the 15,243,283 shares beneficially owned by Grande.
If you purchased Emerson shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll Free at 888-638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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