NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 21, 2015 to file lead plaintiff applications in a securities class action lawsuit against IDI, Inc. (NYSE MKT: IDI) if they purchased the Company’s securities between April 30, 2015 and July 21, 2015, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of Florida.
What You May Do
If you purchased shares of IDI and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 21, 2015.
About the Lawsuit
IDI and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 21, 2015, Seeking Alpha published an article claiming that IDI’s Chairman Michael Brauser has a “long track record of fraud lawsuits, bankruptcy and shareholder wipeouts,” including suits by Equifax accusing him of “fictitious receivables” and by Softbank accusing him of “various frauds.” The article further claims that IDI faces a credible lawsuit from Transunion that, if IDI loses, will cripple the Company’s technology and business.
On this news, the price of IDI’s shares plummeted by 46%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.