A law firm recently announced that it filed a securities class action lawsuit against a mobile gaming company after there were allegations of federal securities law violations.
The Rosen Law Firm, P.A., noted that it filed the lawsuit in the U.S. District Court for the Southern District of New York against China Mobile Games and Entertainment Group. This includes all shareholders of the company who acquired stock in the company in the class period between Sept. 20, 2012 and June 19, 2014, especially during the company's public offering on March 26, 2014.
This litigation alleges that the leaders of China Mobile Games and Entertainment did not inform customers about the financial condition of the company. This included making statements that were either false or misleading, or they did not properly inform shareholders of issues related to bribery, a lack of internal controls and other transactions.
It is an option for shareholders to take up the lead plaintiff position in the case. In order to do this, it is necessary for interested parties to file all necessary paperwork with the court by Aug. 19, 2014. The position is not mandatory, and shareholders still have the option of remaining absent class members, taking no action and still being eligible for a financial return if one occurs.
For shareholders looking to learn more about the lawsuit and how it may affect their rights and interests, it is an option to discuss these matters with the law office. The best individuals to contact are Phillip Kim and Kevin Chan, and they can be reached by telephone or email. There are also more details available on the law office's website.
Second lawsuit filed
Another law office noted that it filed litigation against China Mobile Games and Entertainment Group in the same court.
Kahn Swick and Foti, LLC, explained that it filed the class action lawsuit against the company due to allegations of federal securities law violations due to the company potentially making statements about its prospects that were false or misleading.
Shareholders also have the option to discuss matters with this law firm. The best people to speak with are Lewis Kahn and Melinda Nicholson, who can be reached by telephone or email. They have the ability to go into detail about how shareholders' rights may be affected.