A settlement was reached in the lawsuit filed on behalf of certain investors of LightInTheBox Holding Co Ltd (NYSE: LITB) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on: February 25, 2015. NYSE: LITB investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/20/2015 -- A deadline is coming up on February 25, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of LightInTheBox Holding Co Ltd (NYSE: LITB) between June 6, 2013 through August 19, 2013.
Investors who purchased a significant amount of shares of LightInTheBox Holding Co Ltd (NYSE: LITB) between June 6, 2013 through August 19, 2013, 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 LightInTheBox Holding Co Ltd (NYSE: LITB) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/lightinthebox-holding-co-ltd-ads-nyse-litb-investor-securities-class-action-lawsuit-08272013
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 February 25, 2015. The class action administrator for this case is Strategic Claims Services.
The lawsuit was originally filed in in the U.S. District Court for the Southern District of New York against LightInTheBox Holding Co Ltd over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between its June 6, 2013 initial public stock offering ("IPO") and August 19, 2013. According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of LightInTheBox Holding Co Ltd (NYSE: LITB) between June 6, 2013 and August 19, 2013, that LightInTheBox Holding Co Ltd and certain of its officers and directors violated the Securities Exchange Act of 1934.
More specifically, the plaintiff alleges that defendants misrepresented or failed to disclose that LightInTheBox Holding Co Ltd's sales growth had dramatically decreased during the second quarter of 2013, the period ended June 30, 2013, that LightInTheBox Holding Co Ltd's costs had grown more than its sales during the second quarter of 2013, and that as a result of the foregoing, LightInTheBox Holding Co Ltd was not on track to achieve the financial results defendants had led the market to expect between June 6, 2013 and August 19, 2013.
The plaintiff seeks to recover damages on behalf of all purchasers of LightInTheBox Holding Co ADS between June 6, 2013 and August 19, 2013.
Those who purchased shares of LightInTheBox Holding Co Ltd (NYSE: LITB) 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