NEW YORK, Feb. 23, 2009 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against NutraCea (OTCBB:NTRZ) pertaining to allegations that NutraCea issued materially inaccurate financial statements to the investing public between August 14, 2007 and February 23, 2009.
On February 23, 2009, NutraCea announced that it would be restating earnings for the fiscal years ended December 31, 2007 and 2008. The restatement is due to NutraCea's improper recognition of revenue on two transactions in 2007. Of the approximately $22.2 million of revenue reported for 2007, NutraCea estimates that $4.6 million will be reversed.
The February 23, 2009 announcement caused NutraCea's stock price to fall substantially. The Rosen Law Firm is investigating potential claims against NutraCea for violation of the federal securities laws.
If you suffered loss in NutraCea stock, you have important legal rights that may form the basis of a claim for damages against NutraCea for issuing inaccurate financial statements.
If you purchased NutraCea stock between August 14, 2007 and February 23, 2009 and would like further information about your rights, please contact Laurence Rosen, Esq., Phillip Kim, Esq. or Timothy Brown, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com, pkim@rosenlegal.com, or tbrown@rosenlegal.com. The Rosen Law Firm represents investors throughout the United States, concentrating its practice in securities class actions and shareholder derivative litigation.
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