NEW YORK, Oct. 5, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds investors of the important November 5, 2012 lead plaintiff deadline in the class action filed by the firm against Zagg, Inc. (Nasdaq:ZAGG) on behalf of purchasers of ZAGG stock during the period from February 28, 2012 to August 17, 2012.
To join the ZAGG class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim or Kevin Chan toll-free at 866-767-3653; you may also email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
The complaint alleges that ZAGG's CEO and founder Robert Pedersen pledged more than 50% of his ZAGG stock as collateral for a margin loan and that as a result, the company began a secret plan to replace him as CEO. On August 17, 2012, ZAGG announced that Mr. Pedersen resigned from his posts as CEO and Chairman of the company. Following the announcement, Mr. Pedersen disclosed in an SEC filing that he had sold a total of 515,000 shares of ZAGG stock three days prior to his resignation. The majority of the shares were sold to meet margin calls. This adverse news caused the price of ZAGG stock to drop, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than November 5, 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 or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@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.
Attorney Advertising. Prior results do not guarantee a similar outcome.