Rosen Law Firm Representing Shareholders in Class Action Against NIVS IntelliMedia Technology Group Reminds Investors of Importa
16 April 2011 - 1:34AM
The Rosen Law Firm, P.A. reminds investors of the important May 31,
2011 lead plaintiff deadline in the securities action filed by the
firm. If you purchased securities of NIVS IntelliMedia Technology
Group, Inc. (AMEX:NIV) during the period from March 24, 2010
through March 25, 2011, including stock through the Company's
public offering that closed on April 23, 2010, you should contact
the Rosen Law Firm for more information about the importance of
serving as lead plaintiff. The lawsuit is seeking to recover
damages for investors from violations of federal securities laws.
To join the NIVS class action, visit the firm's website at
http://rosenlegal.com, or call Laurence Rosen, Esq. or Phillip Kim,
Esq., toll-free, at 866-767-3653; you may also email
lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the
class action.
The Complaint asserts violations of the federal securities laws
against NIVS and its officers and directors for misrepresenting the
true financial condition of the Company. On March 25, 2011 the
Company filed an 8-K with the SEC revealing that the Company's
auditor MaloneBailey LLP ("MB") had resigned in connection with
"significant difficulties encountered during the 2010
audit." MB "suspected accounting irregularities and fraud at
NIVS..." As a result, the Company announced that its financial
statements included in the Company's annual report for the year
ended December 31, 2009 and interim periods for the first three
quarters of 2010 should not be relied upon by investors. MB
also found that it could no longer rely upon the Company's
management representations. Since March 24, 2011 trading in
the Company's stock has been halted, effectively rendering the
Company's stock illiquid and damaging investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than May 31, 2011. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. If you wish to join the litigation,
or to discuss your rights or interests regarding this class action,
please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The
Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at
lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also
visit the firm's website at http://rosenlegal.com.
No class has yet been certified in the above action. Until
a class is certified, you are not represented by counsel unless you
retain one. You may choose to do nothing at this point and
remain an absent class member.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a
similar outcome.
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue, 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Weekends Tel: (917) 797-4425
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
www.rosenlegal.com
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