NEW YORK, July 12, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm reminds investors of the July 28, 2008 lead plaintiff deadline in the class action lawsuit on behalf of purchasers of NexCen Brands, Inc. ("NexCen" or the "Company") (Nasdaq:NEXC) common stock and/or call options during the period between May 10, 2007 and May 19, 2008 (the "Class Period").
To join the NexCen class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
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 ALSO REMAIN AN ABSENT CLASS MEMBER.
The complaint asserts that NexCen and certain of its officers and directors failed to adequately disclose details of an accelerated-redemption feature on financing it obtained in connection with its acquisition of Great American Cookies, which required the Company to pay half of its borrowing by a date certain; that the Company was unable to comply with the accelerated-redemption; that the Company had no reasonable basis for its earnings guidance for fiscal 2008; and, the Company's ability to continue as a going concern was in serious doubt. On May 19, 2008, these adverse facts and misstatements were disclosed causing the price of NexCen securities to plummet, damaging investors.
A class action lawsuit has already been filed on behalf of NexCen shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than July 28, 2008. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
More information on this and other class actions can be found on the Class Action Newsline at http://www.primenewswire.com/ca/