A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Medbox Inc (OTC: MDBX) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on June 1, 2016 and OTC: MDBX investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/20/2016 -- The Shareholders Foundation announced that a deadline is coming up on June 1, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Medbox Inc (OTC: MDBX) between April 2, 2013 and December 29, 2014.
Investors who purchased a significant amount of shares of Medbox Inc (OTC: MDBX) between April 2, 2013 and December 29, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Medbox Inc (OTC: MDBX) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/medbox-inc-otc-mdbx-investor-securities-class-action-lawsuit-01212015
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is June 1, 2016. The class action administrator for this case is Strategic Claims Services.
The lawsuit was originally filed in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Medbox Inc in connection with certain allegedly false and misleading statements made between November 20, 2013 and December 29, 2014. According to the complaint the plaintiff alleges on behalf of purchasers of Medbox Inc (OTC: MDBX) common shares between November 20, 2013 and December 29, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 20, 2013 and December 29, 2014 Medbox Inc allegedly overstated Medbox Inc's revenues by recognizing revenue on customer contracts before it had been earned and that as a result Medbox Inc's stock traded at allegedly artificially inflated prices between November 20, 2013 and December 29, 2014, reaching an intra-day high of $93.50 on January 8, 2014. The plaintiff further alleges that while defendants kept the full extent of their fraud concealed between November 20, 2013 and December 29, 2014, while the market learned bits of the truth through several partial disclosures.
Those who purchased shares of Medbox Inc (OTC: MDBX) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com