Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of InterCloud Systems, Inc. (“InterCloud” or the “Company”) (NasdaqCM: ICLD) common stock during the period between November 5, 2013 and March 17, 2014, inclusive (the “Class Period”).
If you have suffered a loss from investment in InterCloud common stock purchased on or after November 5, 2013 and held through the revelation of negative information on March 13, 2014 and/or March 17, 2014 as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or financial obligation, click here:
You may also request more information by contacting Brower Piven either by email at
or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than May 26, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that articles touting InterCloud’s stock were disseminated during the Class Period by promoters paid by the Company. According to the complaint, following articles published on March 13, 2014 and March 17, 2014 revealing the promotional scheme, the value of InterCloud shares declined significantly.