A lawsuit was filed on behalf of investors in Corporate Resource Services Inc (NASDAQ:CRRS) shares over alleged securities laws violations. Deadline: May 1, 2015. NASDAQ:CRRS investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/09/2015 -- An investor, who purchased shares of Corporate Resource Services Inc (NASDAQ:CRRS), filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Corporate Resource Services Inc in connection with certain allegedly false and misleading statements made between July 1, 2014 and February 6, 2015.
Investors who purchased a significant amount of shares of Corporate Resource Services Inc (NASDAQ:CRRS) between July 1, 2014 and February 6, 2015, and / or those who purchased any NASDAQ:CRRS shares prior to July 2014 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: May 1, 2015. NASDAQ:CRRS investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Corporate Resource Services Inc (NASDAQ:CRRS) common shares between July 1, 2014 and February 6, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Corporate Resource Services issued allegedly materially false and misleading statements to investors by failing to disclose that its co-employer, Tri-State Employment Services, Inc., had a material unpaid federal payroll tax liability, which would adversely impact the Company and the Company was not in compliance with the Account Purchase Agreements with Wells Fargo as of November 30, 2014 and that when the truth was revealed to investors, the price of Corporate Resource Services common stock dropped, damaging investors.
Through partial disclosures beginning in early February 2015, Corporate Resource Services Inc revealed that Corporate Resource Services Inc was in noncompliance with a funding agreement it has with Wells Fargo, that Corporate Resource Services Inc's financial statements for 2014 could no longer be relied upon, that several members of Corporate Resource Services Inc's audit committee resigned, and that an internal investigation required by the former audit committee members would not be funded. NASDAQ:CRRS shares declined to as low as $0.05 per share on February 23, 2015.
On March 5, 2015, NASDAQ:CRRS shares closed at $0.062 per share.
Those who purchased shares of Corporate Resource Services Inc (NASDAQ:CRRS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego