NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A., a global investor rights firm, announces that it has filed a class action lawsuit on behalf of purchasers of TCP International Holdings Ltd. (NYSE:TCPI) common stock pursuant and/or traceable to the Company’s IPO on or about June 26, 2014 and between June 26, 2014 through February 27, 2015. The lawsuit seeks to recover damages for TCP investors under the federal securities laws.
To join the TCP class action, go to the website at http://www.rosenlegal.com/cases-525.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action. The suit is pending in U.S. District Court for the Northern District of Ohio.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, TCP issued materially false and misleading statements to investors by failing to disclose the material deficiencies in the Company’s disclosure controls and procedures and its internal control over financial reporting. On February 26, 2015, TCP’s General Counsel and Chief Compliance Officer Laura Hauser filed a lawsuit against the Company, its subsidiary and its CEO, Ellis Yan, claiming that the Company’s Audit Committee found, among other things, that Ellis Yan: (i) obscured financial information and accountability to the Company’s CFO; and (ii) overrode and/or disregarded various internal policies. On this news, shares of TCP fell $3.67 per share or over 57% from its previous closing price to close at $2.74 per share on February 27, 2015, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2015. If you wish to join the litigation go http://www.rosenlegal.com/cases-525.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.