Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against RiT Technologies Ltd. (RITT)


NEW YORK, July 29, 2016 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against RiT Technologies Ltd. (“RiT” or the “Company”) (OTC:RITT) in the United States District Court for the District of New Jersey on behalf of purchasers of common stock of RiT between March 3, 2015 through July 1, 2016, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”).

According to the Complaint, Defendants made false and/or misleading statements and/or failed to disclose that: (1) RiT CIS Ltd. was RiT’s major distributor in Russia and the Commonwealth of Independent States region; (2) RiT CIS was vital to the viability of RiT; and (3) as a result, RiT Technologies’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to serve as lead plaintiff, you must move the Court no later than September 26, 2016.  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.

Please visit our website at http://www.gme-law.com for more information about the firm.