May 31 Deadline Alert: GPM Reminds Investors of the Looming Deadline in the Class Action Lawsuit Against DS Healthcare Group, Inc.

LOS ANGELES--()--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming May 31, 2016 deadline to file a lead plaintiff motion in the class action filed by GPM on behalf of a class (the “Class”) of investors who purchased DS Healthcare Group, Inc. (“DS Healthcare” or the “Company”) (NASDAQ: DSKX) securities between May 15, 2014 and March 28, 2016, inclusive (the “Class Period”).

DS Healthcare and its subsidiaries purportedly develop proprietary technologies and products for hair care and personal care needs.

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects, including issues with the Company’s internal controls and accounting practices. According to the complaint, the Company improperly recognized and reported revenue; did not properly record and did not properly disclose certain equity transactions in violation of GAAP; and, lacked adequate internal controls over accounting and financial reporting.

On March 23, 2016, the Company disclosed that Company President and Chairman of the Board, Daniel Khesin, was terminated “for cause,” because “there is sufficient evidence to conclude that Mr. Khesin violated his fiduciary duty to the Company and its subsidiaries.” The Company further disclosed that its prior financial statements should no longer be relied upon due to errors in revenue recognition and certain Company equity transactions. Upon this news, the Company shares declined sharply in value, thereby injuring investors; and to date trading in the Company’s shares have been halted.

If you purchased DS Healthcare shares, you may move the Court no later than May 31, 2016 to request appointment as lead plaintiff. 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email 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.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

Release Summary

May 31 Deadline Alert: GPM Reminds Investors of the Looming Deadline in the Class Action Lawsuit Against DS Healthcare Group, Inc.

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com