NEW YORK, June 24, 2015 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased root9B Technologies Inc. (“root9B” or the “Company”) (OTC:RTNB) securities between December 1, 2014, and June 15, 2015, inclusive (“Class Period”), alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
The Complaint alleges that Defendants during the Class Period made false and/or misleading statements and/or failed to disclose that: (a) the Company does not have an advanced cyber security product offering, and (b) a substantial portion of the Company’s Cyber Solutions business consists of a one-time low margin hardware installation. When the true details entered the market, the Complaint alleges that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than August 24, 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, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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