A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Rubicon Technology Inc (NASDAQ: RBCN) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on May 17, 2016 and NASDAQ: RBCN investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/13/2016 -- A deadline is coming up on May 17, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Rubicon Technology Inc (NASDAQ:RBCN) between March 19, 2014 and April 30, 2015.
Investors who purchased a significant amount of shares of Rubicon Technology Inc (NASDAQ:RBCN) between March 19, 2014 and April 30, 2015, have certain options and should contact the Shareholders Foundation by email at email@example.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Rubicon Technology Inc (NASDAQ: RBCN) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/rubicon-technology-inc-nasdaq-rbcn-investor-securities-class-action-lawsuit-04302015
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 May 17, 2016. The class action administrator for this case is Gilardi & Co LLC.
The lawsuit was originally filed in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Rubicon Technology Inc in connection with certain allegedly false and misleading statements made in connection with in Rubicon Technology Inc's public stock offering on or about March 19, 2014 ("offering"). According to the complaint the plaintiff alleges on behalf of purchasers of Rubicon Technology Inc (NASDAQ: RBCN) common stock in Rubicon Technology Inc's public offering on or about March 19, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that that the Registration Statement in connection with in Rubicon Technology Inc's public stock offering on or about March 19, 2014 contained allegedly untrue statements of material facts, allegedly omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation. The plaintiff alleges that the Registration Statement negligently failed to disclose material trends, events and uncertainties known to management that were reasonably expected to have a material impact on Rubicon Technology Inc's income from continuing operations, including the reversal of its trend of shrinking losses, higher-than-expected development costs and inventory write-offs due to Rubicon Technology Inc's inability to sell certain of its wafers during its 2014 first quarter at prices greater than their cost to manufacture, causing such inventory to be impaired under applicable accounting rules and regulations.
Those who purchased shares of Rubicon Technology Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego