NEW YORK, July 20, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announced today that is has filed a class action lawsuit against Ignite Restaurant Group, Inc. (NYSE:IRG) alleging that Ignite made false statements of material fact in its prospectus issued in connection with the Company's May 10, 2012 initial public offering (the "IPO"). If you purchased your Ignite shares in the IPO or between May 10, 2012 and July 18, 2012, inclusive, you may recover your investment losses in the class action.
To join the Ignite class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action. The action filed by the Rosen Law Firm is pending in the U.S. District Court for the Southern District of Texas.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint alleges that the Ignite's IPO documents contained false financial statements because the Company improperly accounted for leases. The complaint asserts that when the market learned of this adverse information, the price of Ignite shares dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than September 18, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To join the class action, please visit the website at http://rosenlegal.com. You may also contact Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.