LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the District of New Jersey on behalf of a class (the “Class”) of purchasers of the securities of Liquid Holdings Group, Inc. (“Liquid Holdings” or the “Company”) (Nasdaq: LIQD): (1) pursuant and/or traceable to the Company’s Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s initial public offering on or about July 25, 2013 (the “IPO” or the “Offering”); and/or (2) on the open market between July 26, 2013 and December 23, 2014, inclusive (the “Class Period”). Shareholders have 60 days from the date of this notice to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
Please contact Casey Sadler at 888-773-9224 or 310-201-9150, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
Liquid Holdings is a cloud-based technology and managed services provider to the global hedge fund and active trading markets. Liquid's solutions are delivered through the cloud in a SaaS model.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that : (1) that the Company was overstating its ability to generate customers; (2) that the Company’s business model was unsustainable; (3) that the financial condition of the Company’s main and largest customer (an investment entity known as QuantX Management, LLP (“QuantX”)) was deteriorating; (4) that, as a result, the Company’s financial results and operating metrics were overstated; (5) that, as such, the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles (“GAAP”); (6) that the Company lacked adequate internal controls; (7) and that, as a result of the foregoing, the Company’s financial statements and Defendants’ statements about Liquid Holding’s business, operations, and prospects, were materially false and misleading at all relevant times. Upon disclosure of these issues the Company’s securities declined sharply in value, thereby damaging investors.
If you are a member of the Class described above, you may move the Court no later than 60 days from the date of this notice 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 if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.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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