An investigation on behalf of current long term investors in Corporate Resource Services Inc (NASDAQ:CRRS) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:CRRS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/21/2015 -- An investigation on behalf of current long-term investors in shares of Corporate Resource Services Inc (NASDAQ:CRRS) concerning potential breaches of fiduciary duties by certain directors and officers of Corporate Resource Services Inc was announced.
Investors who are current long term investors in Corporate Resource Services Inc (NASDAQ:CRRS) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:CRRS stocks follows a lawsuit filed recently against Corporate Resource Services Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:CRRS stocks, concerns whether certain Corporate Resource Services Inc officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that Corporate Resource Services issued certain 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 April 17, 2015, NASDAQ:CRRS shares closed at $0.015 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.
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