A lawsuit was filed on behalf of investors in Root9b Technologies Inc (OTCMKTS:RTNB) shares over alleged securities laws violations and Root9b Technologies investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/14/2015 -- An investor in shares of Root9b Technologies Inc (OTCMKTS:RTNB) filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Root9b Technologies Inc in connection with certain allegedly false and misleading statements made between December 1, 2014 and June 15, 2015.
Investors who purchased shares of Root9b Technologies Inc (OTCMKTS:RTNB) have certain options and for certain investors are short and strict deadlines running. Deadline: August 24, 2015. OTCMKTS:RTNB investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Root9b Technologies Inc (OTCMKTS:RTNB) common shares between December 1, 2014 and June 15, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 1, 2014 and June 15, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Root9b Technologies Inc does not have an advanced cyber security product offering and that a substantial portion of Root9b Technologies' Cyber Solutions business consists of a one-time low margin hardware installation.
On June 15, 2015, a report was published on Root9b Technologies Inc asserting, among other things, that Root9b Technologies Inc is created by insiders with long history of penny-stock wipeouts and fraud allegations, that Root9b Technologies Inc's claimed "cyber" business is minuscule and imploding and largely appears to be an old employee training program, which RTNB resells or other irrelevant, overhyped offerings, and that insiders enriched themselves with Root9b Technologies Inc through curious related-party transactions, abusive compensation and unloading their failing investments into the public shell at overvalued prices. Shares of Root9b Technologies Inc (OTCMKTS:RTNB) declined on June 15, 2015 to as low as $1.53 per share, respectively to as low as $0.93 per share on June 23, 2015.
Those who purchased shares of Root9b Technologies Inc (OTCMKTS:RTNB) 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