BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Rubicon Technology, Inc. (“Rubicon Technology” or the “Company”) (NASDAQ: RBCN) concerning the Company’s March 19, 2014 initial public offering pursuant to a Prospectus and Shelf Registration statement (jointly referred to as the “Registration Statement”) filed with the SEC on or around December 6, 2013. Specifically, the investigation seeks to identify whether the Registration Statement contained any untrue statements or material facts, or otherwise omitted to state facts necessary to make the statements not misleading, including whether the Company failed to disclose known trends, events and uncertainties that would have a large impact on the Company’s continuing operations and shrinking revenues. The Law Offices of Howard G. Smith is preparing a complaint to recover damages on behalf of Rubicon Technology investors.
On May 1, 2014, Rubicon Technology published a press release and held an earnings call with investors regarding its first quarter 2014 results. The Company announced lackluster revenues and increasing gross losses, operating losses, and losses per share compared to earlier periods. On this news, Rubicon Technology shares declined sharply, and closed on May 5, 2014 down approximately 16%, or about $10 per share. As a result, Rubicon Technology investors have been damaged by the Company’s allegedly misleading statements in its Registration Statement, and the resulting decline in the stock price.
If you purchased shares of Rubicon Technology pursuant to or traceable to the Company’s March 19, 2014 initial public offering, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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