Holzer Holzer & Fistel, LLC announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of investors in Kid Brands, Inc. (“Kid Brands” or the “Company”) (NYSE: KID) common stock who purchased shares between March 26, 2010 through March 15, 2011, inclusive. The lawsuit alleges that a series of statements regarding Kid Brands’ business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the lawsuit alleges, among other things, the Company knew but failed to disclose that it faced “potential issues regarding customs duty paid on products imported into the U.S.” Kid Brands recently announced that as a result of an internal investigation it discovered instances in which its subsidiary, LaJobi, applied “incorrect import duties. . . on certain wooden furniture imported from vendors in China, resulting in a violation of the anti-dumping regulations.” If you invested in Kid Brands common stock between March 26, 2010 through March 15, 2011, inclusive, or have held shares continuously during that time period, and have questions concerning your legal rights, you are encouraged to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel Jr., Esq. or Marshall P. Dees, Esq. via email at email@example.com, or firstname.lastname@example.org, or via toll-free telephone at (888) 508-6832. Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
Shares of Kid Brands (NYSE:KID) were gapping down Wednesday morning with an open price 15.4% lower than Tuesday's closing price. The stock closed at $7.40 yesterday and opened today's trading at $6.26.