Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the securities of Swisher Hygiene Inc. (“Swisher” or the “Company”) (NasdaqGS: SWSH) between May 16, 2011 and March 28, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”). If you purchased shares of Swisher during the Class Period, or purchased shares prior to the Class Period and still hold Swisher stock, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/swisher-hygiene-inc-swsh. Swisher, a Delaware corporation headquartered in Charlotte, North Carolina, provides hygiene and sanitation solutions. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements concerning the Company’s publicly reported financial statements for the first, second and third quarters of 2011. Specifically, the Complaint alleges that on March 28, 2012, the Company disclosed that its Audit Committee was conducting an ongoing internal review relating to possible adjustments to Swisher’s accounting for business acquisitions and the calculation of the allowance for doubtful accounts receivable. The review was initiated after an informal inquiry prompted by a former employee’s concerns with certain accounting policies. As a result, the Company announced that its previously reported financial results for the first, second and third quarters of 2011 should no longer be relied upon. As a consequence of these disclosures, the price of Swisher common stock declined to a close of $2.76 per share on March 28, 2012, a drop of 9.51%, on March 28, 2012, and further declined 11.96% on the following day, dropping to a close of $2.43 per share on March 29, 2012, on unusually heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than May 29, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.