NEW ORLEANS, May 20, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 18, 2014 to file lead plaintiff applications in a securities class action lawsuit against Ply Gem Holdings, Inc. (NYSE:PGEM), if they purchased the Company's securities pursuant or traceable to Ply Gem's May 22, 2013 Initial Public Offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Ply Gem and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 18, 2014.
About the Lawsuit
Ply Gem, certain of its executives, and the underwriters of the IPO are charged with issuing a series of materially false and misleading statements in the Registration Statement issued in connection with the IPO, violating federal securities laws.
These false statements and omissions included, in part, that: (i) Ply Gem had agreed to buy back certain inventory from The Home Depot, Inc. ("Home Depot") and a new supply agreement between the companies required that Ply Gem initially sell Home Depot a large volume of lower-priced, lower-margin product; and (ii) high customer inventory at the end of the first quarter was adversely affecting the demand for Ply Gem's products in April and May 2013.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.