NEW YORK , July 15, 2013 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC announces that a securities class action has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased shares of SemiLEDs Corporation. ("SemiLEDs or the Company") (NasdaqGS: LEDS), during the period between December 9, 2010 and July 12, 2011, inclusive (the "Class Period").
The Complaint charges SemiLEDs and certain of its officers with violations of federal securities laws. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's operations and business. Specifically, defendants failed to disclose the following facts: (1) that the Company was experiencing pricing pressures which were likely to have an adverse effect on future revenues and operating income; (2) that SemiLEDs' financial information would likely not be indicative of future operating results because of known issues, including a reduction in demand for the Company's products, the likely (and eventual) loss of a substantial customer, and the decline in the value of inventory; and (3) that the Company's disclosure controls were materially deficient and its representations concerning them—including certifications—were materially false and misleading.
Plaintiff seeks to recover damages on behalf of all SemiLEDs Corporation shareholders who purchased common stock during the Class Period described above.
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 Peretz Bronstein, Esq. or his Investor Relations Coordinator 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. September 9, 2013 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
ronstein, 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. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Eitan Kimelman 212-697-6484
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