Roy Jacobs & Associates, a New York City based law firm representing investors nationwide, has filed a securities class action on behalf of investors who purchased Swisher Hygiene Inc. ("Swisher" or the "Company") (NASDAQ: SWSH) stock commencing on March 31, 2011 and continuing through March 28, 2012, (the "Class Period"). The lawsuit is pending in the United States District Court for the Western District of North Carolina, and alleges securities fraud in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Class Period has been expanded to commence on March 31, 2011, rather than the previous date, May 5, 2011.
For further information, please contact Roy L. Jacobs, Esq. toll-free at 1-888-884-4490 or by e-mail to email@example.com.
As alleged in the Complaint, throughout the Class Period, Defendants repeatedly touted the Company's financial strength and future prospects. These statements, however, were materially false and misleading when made because the Company: (1) was improperly accounting for business acquisitions; (2) was improperly calculating its allowance for doubtful accounts receivable; (3) was overstating its income; (4) was preparing and filing financial reports in violation of Generally Accepted Accounting Principles ("GAAP"); and (5) failed to have adequate internal and financial controls.
On March 28, 2012, Swisher disclosed that its previously-announced financial results for the first, second and third quarter of 2011 should no longer be relied upon and that its Audit Committee was conducting an ongoing internal review, which was initiated following a concern raised by a former employee. On this news, Swisher shares declined $0.29 per share, or more than 9.5%, to close on March 28, 2012, at $2.76 per share. The Company's stock declined another $0.33 per share, or nearly 12%, on March 29, 2012 and has not recovered.If you bought Swisher shares during the Class Period (March 31, 2011 through March 28, 2012), and you are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will be glad to personally speak with you.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV