NEW YORK, May 20, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm announces that it is investigating potential civil securities fraud claims against NexCen Brands, Inc. ("NexCen" of the "Company") (Nasdaq:NEXC) concerning allegations that NexCen issued materially false and misleading statements about its financial condition during the time period January 30, 2008 through May 16, 2008.
On May 19, 2008, the Company announced, for the first time, that it had an obligation to repay $30 million of financing it obtained in connection with the Company's acquisition of Great American Cookies. The Company did not disclose this obligation when incurred. The Company also recently disclosed that a "going concern" qualification to its financial statements was appropriate as of the time the Company filed its annual report for fiscal 2007. These adverse announcements caused the value of NexCen's stock and options to fall dramatically.
As a result of these adverse disclosures, the Rosen Law Firm is investigating potential claims against NexCen for violation of the anti-fraud provisions of the federal securities laws.
If you purchased NexCen common stock or options during the time period January 30, 2008 through and including May 16, 2008, and would like further information concerning your legal rights, 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 access the website at http://www.rosenlegal.com to contact the Rosen Law Firm for additional information.
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