NEW YORK, Sept. 24, 2012 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC announces that a class action has been filed on behalf of purchasers of the securities of Digital Domain Media Group, Inc. ("Digital Domain" or the "Company") (OTCQB: DDMGQ -News), who purchased shares during the period between November 18, 2011 through September 6, 2012, inclusive (the "Class Period"), concerning whether the company and certain of its officers and directors have violated federal securities laws.
The complaint alleges that the Digital Domain's Initial Public Offering ("IPO") documents failed to disclose that its cash burn rate threatened its viability. According to a September 18, 2012, article in the Palm Beach Post reported that Digital Domain had had difficulties meeting payroll in 2010, and that then-Chairman and CEO John C. Textor "predicted a 'train wreck' in an email to an investor in early 2010".
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. November 19, 2012, is the deadline for investors to seek a lead plaintiff appointment.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.