The Rosen Law Firm has filed a class action lawsuit on behalf of purchasers of common stock and call options and sellers of put options of Tile Shop Holdings, Inc. (NASDAQ:TTS) during the period between August 22, 2012 and November 13, 2013, seeking to recover damages for violations of the federal securities laws.
To join the Tile Shop class action, visit the firm’s website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, toll-free, at 866-767-3653; you may also email at email@example.com or firstname.lastname@example.org for information on the class action. The lawsuit is pending in the U.S. District Court for the Southern District of New York.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit claims that Tile Shop failed to disclose that one of its largest suppliers, Beijing Pingxiu (“BP”), is an undisclosed related company secretly controlled by Fumitake Nishi, the brother-in-law of the Company’s CEO and a Tile Shop employee. On November 14, 2013, Gotham City Research LLC issued a report asserting that the Tile Shop: (a) greatly exaggerated its true financial performance; (b) failed to disclose BP as a material related party supplier; (c) uses BP to overstate inventories, understate cost of sales and overstate gross profits; (d) purchases goods from BP at or near cost to allow Tile Shop to achieve an artificial cost advantage; and (e) overstates earnings. The complaint asserts that when this adverse information entered the market, the price of Tile Shop shares dropped substantially, damaging investors.If you wish to serve as lead plaintiff, you must move the Court no later than January 14, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at email@example.com or firstname.lastname@example.org. You may also visit the firm’s website at http://rosenlegal.com. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV