Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Code Rebel Corp Investors & Encourages...
June 28 2016 - 2:25PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that a
class action lawsuit has been filed on behalf of investors who
purchased Code Rebel Corp (“Code Rebel” or the “Company”) (NASDAQ:
CDRB) securities between August 17, 2015 and May 5, 2016,
inclusive (the “Class Period”). Code Rebel investors have
until July 11, 2016 to file a lead plaintiff
motion.
Investors who have suffered losses on their Code Rebel
investments are encouraged to contact Lesley Portnoy of GPM to
discuss their legal rights in this class action at 310-201-9150 or
by email to shareholders@glancylaw.com.
According to the lawsuit, defendants throughout the Class Period
issued false and misleading statements to investors and/or failed
to disclose that: (1) Code Rebel’s financial statements contained
errors concerning its assets and financial condition; and (2) as a
result of the foregoing, Code Rebel’s public statements were
materially false and misleading and/or lacked a reasonable basis at
all relevant times.
On May 6, 2016, the Company acknowledged that the Securities and
Exchange Commission (the “SEC”) suspended trading in the Company’s
securities, “because of questions regarding the accuracy of
statements in its Forms 10-Q for the quarters ended June 30, 2015
and September 30, 2015, and the Form 10-K for the year ending
December 31, 2015, concerning the company's assets and financial
condition.”
On this news, shares of Code Rebel fell sharply in value thereby
damaging investors. And, on May 19, 2016 the Company filed for
bankruptcy protection.
If you purchased shares of Code Rebel during the Class Period
you may move the Court no later than July 11,
2016 to ask the Court to appoint you as lead plaintiff if
you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights
or interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com, or visit our
website at http://glancylaw.com. If you inquire by email please
include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160628006549/en/
Glancy Prongay and Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224https://www.glancylaw.comshareholders@glancylaw.com
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