LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Platinum Pari-Mutuel Holdings Inc. (“Platinum” or the “Company”) (Other OTC: PPMH) concerning possible violations of federal securities laws between July 12, 2016 and February 15, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm by the May 2, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that during the Class Period, Platinum issued materially false and/or misleading statements and/or failed to disclose that: the Company’s press releases and financial information lacked veracity; that the Company’s disclosure controls and procedures were inadequate; and that as a result of the above, Platinum’s public statements were materially false and misleading at all relevant times. On February 16, 2017, the Securities and Exchange Commission prevented Platinum from trading due to questions regarding the accuracy of its press releases and the financial information Platinum offered the public. The SEC clarified that these questions concern the valuation of recent corporate acquisitions and forecasts for future revenues. When this news was revealed to investors, the Company’s stock price fell, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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