NEW YORK, Oct. 02, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of persons who purchased or acquired the securities of Liquid Holdings Group, Inc. ("Liquid Holdings" or the "Company") (NASDAQ:LIQD) pursuant and/or traceable to the Company's registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with the Company's initial public offering on or about July 25, 2013 (the "IPO" or the "Offering"); and/or on the open market between July 26, 2013 and December 23, 2014, inclusive (the "Class Period"). Shareholders of Liquid Holdings Group, Inc. with losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased the shares of Liquid Holdings during the class period or on the IPO you may, no later than November 20, 2015, request that the Court appoint you lead plaintiff of the proposed class.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) that the Company was overstating its ability to generate customers; (2) that the Company's business model was unsustainable; (3) that the financial condition of the Company's main and largest customer (an investment entity known as QuantX Management, LLP ("QuantX")) was deteriorating; (4) that, as a result, the Company's financial results and operating metrics were overstated; (5) that, as such, the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (6) that the Company lacked adequate internal controls; (7) and that, as a result of the foregoing, the Company's financial statements and Defendants' statements about Liquid Holding's business, operations, and prospects, were materially false and misleading at all relevant times.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Liquid Holdings Investigation.”
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