STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Liquid Holdings Group, Inc. (NasdaqCM: LIQD) (“Liquid Holdings” or the “Company”) securities pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s initial public offering on or about July 25, 2013 (the “IPO” or the “Offering”); and/or on the open market between July 26, 2013 and December 23, 2014, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until November 23, 2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in Liquid Holdings securities, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company securities during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 by virtue of the defendants’ failure to disclose during the Class Period and in the Offering Documents issued in connection with the Company’s IPO that the Company was overstating its ability to generate customers, that its business model was unsustainable, that the financial condition of the Company's main and largest customer was deteriorating and that as a result of the foregoing, the Company's financial results were overstated.
According to the Complaint, following the Company’s disclosure of this information, the value of Liquid Holdings shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.