Investor Alert: Holzer Holzer & Fistel, LLC Filed a Class Action Against LightInTheBox Holding Co.; Investors With Significant Losses Encouraged to Inquire About Lead Plaintiff Position
ATLANTA, GA--(Marketwired - Sep 9, 2013) - Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit on behalf of investors who purchased LightInTheBox Holding Co., Ltd. ("LightInTheBox" or the "Company") (NYSE: LITB) American Depository Shares ("ADS") in connection with the company's initial public offering ("IPO"). The complaint alleges that a series of statements made during that time regarding LightInTheBox's business, operations and prospects were false and misleading. Specifically, the complaint alleges that LightInTheBox misrepresented and failed to adequately disclose: (a) LightInTheBox's sales growth had dramatically decreased during the second quarter of 2013, the period ended June 30, 2013; (b) LightInTheBox's costs had grown more than its sales during the second quarter of 2013; and (c) as a result of the foregoing, the Company was not on track to achieve the financial results defendants had led the market to expect during the Class Period.
If you purchased LightInTheBox ADS between June 6, 2013 and August 19, 2013 you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than October 28, 2013. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a LightInTheBox investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
