NEW YORK, Sept. 13, 2012 (GLOBE NEWSWIRE) -- Gainey & McKenna announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Texas, on behalf of investors who purchased the securities of DGSE Companies Inc. ("DGSE" or the "Company") (NYSE:DGSE) between April 15, 2011 and April 17, 2012, inclusive (the "Class Period"). The action is brought against DGSE for violations of the Securities Exchange Act of 1934.
The Complaint alleges that the Company's former Chief Financial Officer engaged in improper accounting of inventory and other balance sheet accounts which caused the Company to restate its financial statements for the periods ended December 31, 2007, 2008, 2009, and 2010, including the interim quarterly periods between the second quarter of 2007 through and including the third quarter of 2011. Consequently, on April 17, 2012, NYSE halted trading in DGSE stock, effectively rendering it illiquid.
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 Thomas J. McKenna, Esq. of Gainey & McKenna at (212) 983-1300, or via e-mail at tjmckenna@gaineyandmckenna.com.
While Gainey & McKenna did not file the Complaint in this matter, the firm, with offices in New York and New Jersey, regularly prosecutes cases on behalf of shareholders in state and federal courts throughout the United States.