NEW YORK, Jan. 30, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP ("Levi & Korsinsky") today announced that a class action has been commenced on behalf of all persons or entities who acquired IBSG International, Inc. ("IBSG" or the "Compnay") (OTCBB:IBIN) common stock between April 1, 2008 and January 12, 2009 (the "Class Period"). The class action is pending in the United States District Court for the Eastern District of New York.
The complaint alleges that the Company and senior management issued false and misleading financial statements in violation of the Securities Exchange Act of 1934.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from January 30, 2009. For further information concerning your legal rights, please contact Eduard Korsinsky, Esq. or Juan E. Monteverde, Esq. of Levi & Korsinsky, LLP at 212-363-7500 or via e-mail at info@zlk.com
Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint charges IBSG, certain of its former officers and directors and its auditor with violations of the Securities Exchange Act of 1934. IBSG is a holding company for four software subsidiaries. Through these subsidiaries, IBSG provides various software solutions and services.
Levi & Korsinsky, LLP has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. Levi & Korsinsky, LLP represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.