LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray announces the filing of a class action on behalf of investors of Rubicon Technology, Inc. (“Rubicon Technology” or the “Company”) (NASDAQ: RBCN) who purchased shares offered in 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. Investors have until June 29, 2015 to file a motion to be appointed as a lead plaintiff in this class action lawsuit.
The Complaint alleges that the Registration Statement contained 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.
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 Rubicon Technology shares pursuant to the Registration Statement, if you have information or would like to learn more about these claims, or have any questions concerning this announcement, please contact Lesley Portnoy, of Glancy Prongay & Murray, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, 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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