Kahn Swick & Foti, LLC ("KSF") and KSF partner, Former Attorney General of Louisiana, Charles C. Foti, Jr., announce the commencement of the firm’s securities class action lawsuit against Mecox Lane Limited ("Mecox" or the "Company") (Nasdaq: MCOX). The lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of Mecox common stock pursuant to its October 2010 Initial Public Offering ("IPO" or the “Offering”) of 11,742,857 American depositary shares ("ADSs"), each representing seven ordinary shares of the Company, priced at $11.00 per ADS.
What You May Do
If you are a Mecox shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (
), toll free, 877-515-1850, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. (
), toll free at 877-694-9510, or via cell phone any time at 330-860-4092. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by February 1, 2011. Any member of the putative 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. KSF encourages both institutional and individual purchasers of Mecox to contact the firm. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests.
KSF also encourages anyone with information regarding Mecox’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
About the Lawsuit
Mecox, its entire Board of Directors, its Chief Financial Officer, and the Underwriters involved in the Offering (including Credit Suisse Securities (USA) LLC (“Credit Suisse”) and UBS AG (“UBS”)), are each charged with including or allowing the inclusion of materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the IPO, in direct violation of the Securities Act of 1933.