EDWARDSVILLE, Ill., June 14, 2018 (GLOBE NEWSWIRE) -- Flint Law Firm, LLC and Calcagni & Kanefsky, LLP today announced that they have filed a securities class action lawsuit on behalf of Joevannie Solis against Latium Network, Inc. (“Latium” or the “Company”) and certain of its senior executives. The action, captioned Solis v. Latium Network, Inc., et al., Case No. 2:18-cv-10255, was filed in the United States District Court for the District of New Jersey and asserts claims under the Securities Act of 1933 (the “Securities Act”) on behalf of investors in Latium’s LatiumX tokens (the “Class”) during the period of July 25, 2017 through March 1, 2018 (the “Class Period”).
The Complaint alleges that during the Class Period, Latium conducted an initial coin offering during which it received over $17 million by selling LatiumX tokens to investors. Prior to conducting the Latium initial coin offering, the Company did not submit any registration statements to the United States Securities and Exchange Commission and there were not any available exemptions from registration. The action alleges that the Latium initial coin offering constitutes the offer and sale of unregistered securities without an exemption in direction violation of the Securities Act. The Complaint also alleges that Latium’s senior executives, Defendants David Johnson and Matthew Carden, are liable under federal securities laws as controlling persons who had sufficient influence over and direct knowledge of Latium’s involvement in the initial coin offering.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than sixty (60) days from today. Accordingly, the deadline for filing a motion for appointment as Lead Plaintiff is August 13, 2018. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice or may choose to do nothing and remain a member of the proposed Class. Your ability to share in any recovery does not require that you serve as a Lead Plaintiff.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Aaron K. Dickey of the Flint Law Firm at 877-700-6435, or via e-mail at adickey@flintlaw.com.