SHAREHOLDER ALERT: The Law Firm Of Levi & Korsinsky Notifies Investors With Losses On Their Investment In KIT Digital, Inc. Of Class Action Lawsuit And The Deadline Of July 25, 2012 To Seek A Lead Plaintiff Position
Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased KIT digital, Inc. (“KIT” or the “Company”) (Nasdaq: KITD) stock between November 8, 2011 and May 3, 2012.
For more information, click here: http://zlk.9nl.com/kit-digital . There is no cost or obligation to you.
The complaint alleges that, during the Class Period, defendants made materially false and misleading statements regarding the Company’s business operations, financial condition and prospects. In particular, the complaint alleges that the Company overstated its success while underreporting the cost of asset acquisitions. The complaint further alleges that the Company lacked adequate internal controls.
On March 23, 2012, the Company announced that four directors had resigned from the Board of Directors. The Company’s CEO, Kaliel Tuzman, also announced he would resign from his position but remain Board Chairman. On April 16, 2012, however, Tuzman resigned as Board Chairman. Then on May 3, 2012, the Company announced its preliminary reports for the first quarter of 2012, indicating a quarterly operating loss of $8 million and acknowledging that KIT’s guidance was unreasonable. Upon this news, KIT stock fell 30% on heavy trading volume.If you suffered a loss in KIT you have until July 25, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/kit-digital. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
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
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
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
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 + 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