LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC (www.Goldberglawpc.com) announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York against AirMedia Group, Inc. (“AirMedia” or the “Company”) (NASDAQ: AMCN), for alleged violations of the federal securities laws. Investors who purchased or otherwise acquired shares between April 15, 2015 and June 15, 2015, inclusive (the “Class Period”), have until August 24, 2015 to serve as lead plaintiff in the class action.
If you are a shareholder who suffered a loss during the Class Period, we advise you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 13650 Marina Pointe Dr. Suite 1404, Marina Del Rey, CA 90292, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
AirMedia is a leading operator of out-of-home advertising platforms that focuses on selling time slots on its network in the People’s Republic of China. The complaint alleges that the Company made false and/or misleading statements regarding the sale of a 5% interest in AirMedia’s advertising subsidiary, AirMedia Group Co., Ltd., to Shenzhen Liantronics Co. Ltd., and the value of the subsidiary negotiated in the deal. The Company stated in a press release that the deal reflected the value of AirMedia’s subsidiary at $500 million. On June 15, 2015, the Company announced that it had reached an agreement to sell a 75% equity interest in the subsidiary to a Chinese fund manager at a significant discount from the value the Company had previously claimed. When this news was revealed, shares of AirMedia fell nearly 50% over a two-day period.
If you have any questions concerning your legal rights in this case, please immediately contact Goldberg Law PC at 800-977-7401, or visit our website at http://www.Goldberglawpc.com, or email us at email@example.com.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.