Milberg LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against NIVS IntelliMedia Technology Group, Inc.
07 April 2011 - 11:47PM
Marketwired
A class action lawsuit was filed in the United States District
Court for the Central District of California on behalf of
purchasers of NIVS IntelliMedia Technology Group, Inc. (NYSE Amex:
NIV) securities from March 24, 2010, through March 25, 2011,
inclusive (the "Class Period"). The complaint alleges that
throughout the Class Period, Defendants knew or recklessly
disregarded that their public statements concerning NIVS's
business, operations and prospects were materially false and
misleading.
On March 24, 2011, NYSE Regulation, Inc. abruptly halted trading
in the common stock of NIVS. Then, on March 25, 2011, the Company
filed a Current Report with the SEC on Form 8-K that disclosed the
Audit Committee of the Board of the Directors had dismissed NIVS's
independent auditor, MaloneBailey LLP. According to the Company,
MaloneBailey "based its resignation on what it characterized (as)
illegal acts involving the Company's accounting records and bank
statements and discrepancies in accounts receivable."
If you purchased NIVS securities during the Class Period you
may, no later than May 30, 2011, file a motion with the Court to
appoint you lead plaintiff. A lead plaintiff is a representative
party that directs the litigation, and will be the movant that the
Court determines to have the largest financial interest in the
litigation with claims typical of those of other class members and
the ability to adequately represent the class. Your share in any
recovery will not be enhanced by serving as a lead plaintiff. You
do not need to be a lead plaintiff to recover in a class action;
you can recover as an absent class member. You may retain Milberg
LLP, or other attorneys, for this action, but do not need to retain
counsel to recover as an absent class member. The complaint in this
action was not filed by Milberg.
Founded in 1965, Milberg has offices in New York, Los Angeles,
Tampa, and Detroit. The Firm has litigated landmark cases and
recovered billions for shareholders and consumers. Our website
(www.milberg.com) has additional information.
You can contact the following attorney for more information:
Andrei V. Rado, Esq. Milberg LLP One Pennsylvania Plaza, 49th
Fl. New York, NY 10119-0165 Phone number: (800) 320-5081 Email:
contactus@milberg.com Attorney Advertising. Prior Results Do Not
Guarantee A Similar Outcome.
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