Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Liquid Holdings Group, Inc.
WAYNE, Pa., Sept. 23, 2015 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of persons who purchased or acquired the shares of Liquid Holdings Group, Inc. ("Liquid Holdings" or the "Company") (NASDAQ: LIQD) pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement") 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").
Liquid Holdings shareholders may, no later than November 20, 2015, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Liquid Holdings and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/liqd.
Liquid Holdings is a cloud-based technology and managed services provider to the global hedge fund and active trading markets. Liquid's solutions are delivered through the cloud in a SaaS model.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) that the Company was overstating its ability to generate customers; (2) that the Company's business model was unsustainable; (3) that the financial condition of the Company's main and largest customer (an investment entity known as QuantX Management, LLP ("QuantX")) was deteriorating; (4) that, as a result, the Company's financial results and operating metrics were overstated; (5) that, as such, the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (6) that the Company lacked adequate internal controls; (7) and that, as a result of the foregoing, the Company's financial statements and Defendants' statements about Liquid Holding's business, operations, and prospects, were materially false and misleading at all relevant times. Upon disclosure of these issues the Company's securities declined sharply in value, thereby damaging investors.
If you are a member of the class, you may, no later than November 20, 2015, request that the Court appoint you as lead plaintiff of the class. 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 Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/liqd
[email protected]
Logo - http://photos.prnewswire.com/prnh/20121112/MM11729LOGO
SOURCE Ryan & Maniskas, LLP
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article