NEW YORK, Feb. 26, 2013 /PRNewswire/ -- Bernstein Liebhard
LLP today announced that a securities class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of
a class (the "Class") of purchasers of Poseidon Concepts
Corporation ("Poseidon" or the "Company") (NYSE: POOSF) stock
between May 9, 2012 to February 14, 2013 (the "Class Period").
(Logo: http://photos.prnewswire.com/prnh/20120202/MM47134LOGO
)
The Complaint asserts violations of the federal securities laws
against Poseidon and certain of its officers and directors for
issuing materially false and misleading financial information. The
Complaint asserts that Poseidon overstated revenue and earnings by
over 200% during the Class Period. Poseidon also stated that its
forecast for 2012 should no longer be relied on. This adverse news
caused the price of Poseidon stock to drop, causing investors
losses.
Plaintiffs seek to recover damages on behalf of all Class
members who invested in Poseidon stock during the Class
Period. If you invested in Poseidon stock as described above
during the Class Period, and either lost money on the transaction
or still hold the stock, you may wish to join in this action to
serve as lead plaintiff. In order to do so, you must meet
certain requirements set forth in the applicable law and file
appropriate papers no later than April 24,
2013.
A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order
to be appointed lead plaintiff, the court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as lead plaintiff. Your ability to share
in any recovery is not, however, affected by the decision whether
or not to serve as a lead plaintiff. You may retain Bernstein
Liebhard LLP, or other counsel of your choice, to serve as your
counsel in this action.
If you are interested in discussing your rights as a Poseidon
shareholder and/or have information relating to the matter, please
contact Joseph R. Seidman, Jr. at
(877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3 billion for its clients. It
has been named to The National Law Journal's "Plaintiffs'
Hot List" in each of the last ten years.
You can obtain a copy of the complaint from the clerk of the
court for the United States District Court for the Southern
District of New York.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2013 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
SOURCE Bernstein Liebhard LLP