This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bernstein Liebhard LLP Announces Investigation Into Ignite Restaurant Group, Inc. After Disclosure Of Imminent Restatement

NEW YORK, July 20, 2012 /PRNewswire/ -- Bernstein Liebhard LLP today announced an investigation into Ignite Restaurant Group, Inc. (Nasdaq: IRG) ("Ignite" or the "Company").  On July 18, 2012, after the market closed, Ignite announced that, following an internal assessment of its lease accounting policies, the Company had determined it necessary to correct non-cash related errors related to its accounting treatment of certain leases. As a follow-up to this review, the Company also stated that it was commencing a detailed review of its historical accounting for fixed assets and related depreciation expense in prior periods as a private company.

(Logo: http://photos.prnewswire.com/prnh/20120202/MM47134LOGO)

Following the completion of the accounting review, the Company, with the concurrence of its independent registered public accounting firm, PricewaterhouseCoopers LLP, announced that it would restate its previously issued financial statements for years 2009 through 2011 and for the first quarter of 2012.

On this news, Ignite shares declined over 20% to close at $15.15 per share on July 19, 2012, representing a loss of nearly $100 million in shareholder value.

If you are interested in discussing your rights as an Ignite shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.

Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients.  It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last nine years.

Bernstein Liebhard LLP10 East 40th Street New York, New York 10016(877) 779-1414 www.bernlieb.com

ATTORNEY ADVERTISING. © 2012 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information Joseph R. Seidman, Jr.Bernstein Liebhard LLP http://www.bernlieb.com(212) 779-1414 seidman@bernlieb.com

SOURCE Bernstein Liebhard LLP

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs