NEW YORK, Oct. 30, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces that a class action lawsuit has been filed on behalf of purchasers of Tesco PLC (OTC:TSCDY) securities during the period between February 2, 2014 through September 22, 2014. The lawsuit seeks to recover investors' losses by asserting claims under the federal securities laws.
To join the Tesco class action, visit the firm's website at http://rosenlegal.com/cases-383.html, 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.
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.
According to the lawsuit, Tesco and certain of its officers and directors misstated and/or failed to disclose material adverse facts regarding its profit and business revenues. Specifically, the Company announced on September 22, 2014 that it had overstated its expected profit for the half year by $402 million and that it had accelerated recognition of income and delayed accrual of certain costs. When this adverse information was revealed, Tesco's share price fell sharply, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than December 22, 2014. If you wish to join the litigation and recover your losses go to http://rosenlegal.com/cases-383.html 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.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.