Shareholders Foundation, Inc.

Deadline Upcoming in $2.7 Million Settlement in the Growlife Inc (OTC:PHOT) Investor Lawsuit

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Growlife Inc (OTC:PHOT) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on July 11, 2015 and OTC:PHOT investors should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 05/20/2015 -- A deadline is coming up on July 11, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Growlife Inc (OTC:PHOT) between November 14, 2013 and April 9, 2014.

Investors who purchased a significant amount of shares of Growlife Inc (OTC:PHOT) between November 14, 2013 and April 9, 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 Growlife Inc (OTC:PHOT) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/growlife-inc-otc-phot-investor-securities-class-action-lawsuit-04182014

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 July 11, 2015. 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 against Growlife Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 14, 2013 and April 9, 2014. According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Growlife Inc (OTC:PHOT) between November 14, 2013 and April 9, 2014, that Growlife Inc violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that between November 14, 2013 and April 9, 2014 Growlife Inc issued allegedly materially false and misleading statements about its true financial condition.

On April 10, 2014, the Securities and Exchange Commission ("SEC") temporarily suspended trading of GrowLife securities for 10 market days. The SEC said that it was suspending the trading because of concerns regarding the accuracy and adequacy of information.

Growlife Inc, located in Seattle, WA, manufactures equipment and expendables, such as nutrients and soils for the growing of medical marijuana. The Company also markets plant growing systems.

Those who purchased shares of Growlife Inc (OTC:PHOT) 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