NEW YORK, Sept. 7, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased the common stock of DGSE Companies, Inc. (NYSE:DGSE) during the period from April 15, 2011 to April 17, 2012 (the "Class Period") seeking to recover damages for violations of the federal securities laws.
To join the DGSE class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action. The lawsuit filed by the firm is pending in the U.S. District Court for the Northern District of Texas.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint asserts violations of the federal securities laws against DGSE and certain if its officers and directors for issuing materially false and misleading financial information. The Complaint asserts that during the Class Period defendants falsely attested to the accuracy DGSE's financial statements filed with the SEC. On April 16, 2012 the Company announced that investors could no longer rely on the Company's financial statements dating back to 2007 and continuing through the third quarter of 2011, as those financial statements had to be restated. As a result, the Complaint alleges that the NYSE AMEX halted all trading in DGSE stock, rendering DGSE's stock illiquid and damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than November 6, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.