SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Liquidity Services, Inc. To Contact Brower Piven Before The September 12, 2014 Lead Plaintiff Deadline In Class Action Lawsuit
The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Columbia on behalf of all persons who purchased or otherwise acquired the common stock of Liquidity Services, Inc. (“Liquidity” or the “Company”) (NasdaqGS: LQDT) during the period between February 1, 2012 through May 7, 2014, inclusive (the “Class Period”).
If you have suffered a loss from investment in Liquidity common stock purchased on or after February 1, 2012 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. 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 September 12, 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 the impact of mix changes in the Company’s Department of Defense surplus and retail businesses, delayed capital asset projects in both the U.S. and Europe and unusual softness in the Company’s energy vertical due to an industry-wide decline in line pipe and related equipment. According to the complaint, following the Company’s May 7, 2014 announcement that the Company suffered heavy, unforeseen losses and was forced to drastically reduce its guidance for gross merchandise volume, Adjusted EBITDA and Adjusted Diluted earnings per share, the value of Liquidity shares declined significantly.
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