Ryan & Maniskas, LLP (
) as commenced an investigation into potential securities law violations by certain officers of Ignite Restaurant Group, Inc. (“Ignite” or the “Company”) (NASDAQ: IRG). The investigation focuses on allegations that certain statements issued by the Company regarding the Company’s business, operations and financial condition were false and misleading.
Ignite shareholders who purchased shares of Lime Energy between May 11, 2012 and July 18, 2012 should contact Richard A. Maniskas, Esquire at 877-316-3218 or at
to learn more about this investigation.
On May 11, 2012, Ignite began trading on the NASDAQ. On July 18, 2012, the Company disclosed that, following an internal assessment of its lease accounting policies, the Company has 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 is also commencing a detailed review of its historical accounting for fixed assets and related depreciation expense in prior periods as a private company. Following the completion of the accounting review, the Company, with the concurrence of its independent registered public accounting firm, PricewaterhouseCoopers LLP, will restate its previously issued financial statements for years 2009 through 2011 and for the first quarter of 2012. On this news, shares of Ignite dropped over 20%.
If you purchased Ignite shares and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit:
. You may also email Mr. Maniskas at
. For more information about class action cases in general, please visit our website:
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.