NEW YORK, May 18, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against Code Rebel Corporation (“Code Rebel” or the “Company”) (Nasdaq:CDRB) in the United States District Court for the Southern District of New York on behalf of purchasers of Code Rebel common stock between August 17, 2015 and May 5, 2016, inclusive (the “Class Period”).
Shareholders who have purchased Code Rebel Corporation common stock at any time since the Initial Public Offering (IPO) on May 19, 2015, are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased shares of Code Rebel and suffered a loss, you may request that the Court appoint you lead plaintiff of the proposed class no later than July 11, 2016.
According to the filed Complaint, Defendants concealed from the investing public that: (1) Code Rebel’s financial statements contained errors concerning its assets and financial condition; and (2) as a result of the foregoing, Code Rebel’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. As a result of Defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
On May 6, 2016, the SEC issued an order suspending the trading of the Company’s stock citing a lack of accurate information concerning the securities of Code Rebel because of questions regarding the accuracy of statements in its Forms 10-Q for the quarters ended June 30, 2015 and September 30, 2015, and the Form 10-K for the year ending December 31, 2015, concerning the Company’s assets and financial condition.
Code Rebel shares traded as high as $44.21 on June 3, 2015. Shares last closed at $2.16 on May 5, 2016, prior to the suspension of trading.
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 “Code Rebel investigation.”