NEW YORK, Jan. 22, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, a global investor rights firm, announces that a class action lawsuit has been filed on behalf of purchasers of Medbox, Inc. common stock (OTC:MDBX) during the period from November 20, 2013 to December 29, 2014 seeking remedies under the federal securities laws.
To join the Medbox class action, visit the firm's website at http://www.rosenlegal.com/cases-468.html, or call Phillip Kim, Esq. or Kevin Chan, Esq. 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, Medbox overstated the Company's revenues by recognizing revenue on customer contracts before it had been earned. On December 30, 2014, Medbox announced that its financial statements for: (i) the year ended December 31, 2013, (ii) the third and fourth quarters of 2013, and (iii) the first and second quarters of 2014 can no longer be relied upon, as they are materially inaccurate. This news caused Medbox's share price to decline, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than March 23, 2015. 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 go to http://www.rosenlegal.com/cases-468.html 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.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.