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The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against Artificial Life, Inc. (OTC BB: ALIF) resulting from allegations that the Company may have issued materially inaccurate financial statements to the investing public between May 5, 2010 and April 6, 2011.
On April 13, 2010, the Company engaged KPMG to be its accountant. When conducting the audit for FY 2010, KPMG disagreed with the Company over the Company’s accounting treatment of reserves for account receivables and revenue recognition, preventing KPMG from issuing an unqualified opinion. The Company refused to alter the accounting treatment of these entries, and dismissed KPMG on April 6, 2011. On April 7, 2011, the Company’s stock price fell over 25%, damaging investors.
The Rosen Law Firm is investigating a securities class action lawsuit on behalf of Artificial Life investors. If you purchased Artificial Life stock between May 5, 2010 and April 6, 2011, please visit the website at
http://rosenlegal.com for more information. You may also contact Laurence Rosen, Esq., or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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