LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP, representing investors of GrowLife, Inc. (“GrowLife” or the “Company”) (OTCBB:PHOT), has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of GrowLife securities between November 14, 2013 and April 9, 2014, inclusive (the “Class Period”).
Please contact Glancy Binkow & Goldberg LLP, toll-free at 888-773-9224 or at 212-682-5340, or by email to firstname.lastname@example.org to discuss this matter.
GrowLife manufactures and supplies plant growing systems, branded equipment and expendables for urban gardening, primarily for cultivation of medical marijuana, in the United States. The Complaint alleges that throughout the Class Period defendants issued false and misleading statements or failed to disclose that: (1) the Company had provided inaccurate and/or inadequate information about its stock and engaged in potentially manipulative transactions; (2) the Company lacked adequate internal and financial controls; and (3) as a result, the Company’s financial statements were materially false and misleading at all relevant times.
On April 10, 2014, the Securities and Exchange Commission announced that it is temporarily suspending trading of GrowLife securities. According to a statement issued by the SEC, trading of the Company’s securities has been suspended until April 29, 2014, “because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in [the Company’s] common stock.”
If you are a member of the Class described above, you may move the Court no later than June 17, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at 888-773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at 212-682-5340, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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