Harwood Feffer LLP (
) announces that a class action suit was filed in the United States District Court for the Southern District of Florida against FriendFinder Networks, Inc. (“FriendFinder” or the “Company”) (NASDAQ: FFN) on behalf of all purchasers of FriendFinder securities pursuant and/or traceable to the Company’s Registration and Propsectus issued in connection with the Company’s May 11, 2011 initial public offering (the “IPO”).
According to the Company's Registration Statement and Prospectus, there would be approximately 26.7 million common shares outstanding after the IPO, including at least 20.9 million shares subject to a 180-day lock-up period, during which the shares could not be traded (the "Restricted Shares"). The complaint alleges that these statements were false and misleading when made because a material number of the Restricted Shares were publicly traded during the lock-up period. Furthermore, the complaint alleges that the Company was suffering from deficient internal controls and was, therefore, unable to abide by the terms of the Registration Statement and Prospectus.
If you purchased FriendFinder common stock pursuant and/or traceable to the IPO, you have until January 16, 2012 to ask the Court to appoint you lead plaintiff for the class. Moreover, current holders of FriendFinder common stock purchased at any time may also have a claim. If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.Benjamin Sachs-MichaelsHarwood Feffer LLP488 Madison AvenueNew York, New York 10022Phone Numbers: (877) 935-7400(212)935-7400Email:
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (
) for more information about the firm.
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). Prior results do not guarantee or predict a similar outcome with respect to any future matter.