Rosen Law Firm Investigates Securities Fraud Claims Against Poseidon Concepts Corp. – POOSF

The Rosen Law Firm announces that it is investigating securities fraud claims against Poseidon Concepts Corp. (OTC: POOSF).

On February 14, 2013, Poseidon announced that it would restate results for the first three quarters of 2012. Poseidon stated that up to $106-million of its $148.1 million of revenue for the nine months ended Sept. 30 should not have been recorded. Poseidon stated that up to $102 million of its $125.5 million accounts receivable as of September 30, 2012 should not have been recorded in its financial statements as accounts receivable. Poseidon also stated that its forecast for 2012 should no longer be relied on. This adverse news caused the price of Poseidon stock to drop, causing investors losses.

The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information to recover investors’ losses. If you purchased Poseidon securities on the U.S. markets prior to February 14, 2013, you may visit the website at http://rosenlegal.com to join the class action. You may also contact Phillip Kim, Esq. or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Copyright Business Wire 2010

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