Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In CBD Energy Limited (CBDE) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in CBD Energy Limited (“CBD” or the “Company”) (NASDAQ: CBDE) of the December 26, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against CBD and certain executives, directors, and underwriters of the Company’s public offering (the “Offering”).
A complaint has been filed in the United States District Court for the Eastern District of Texas on behalf of all persons who purchased CBD common stock pursuant and/or traceable to CBD’s Registration Statement and Prospectus (“Offering Documents”) issued in connection with the Offering, which commenced on or about June 13, 2014 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Offering Documents issued by the defendants contained material errors in relation to, among other issues, CBD’s accounting in connection with related party transactions.
On October 24, 2014, the Company announced that there were material errors in CBD’s previously issued financial statements, including those contained in the Offering Documents, and that revisions to those financial statements were required.
Following this news, the price of CBD stock declined by $0.76 per share, or over 37%, to close on October 24, 2014 at $1.25 per share.
If you invested in CBD common stock or bonds pursuant and/or traceable to CBD’s Offering Documents issued in connection with the Offering, which commenced on or about June 13, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding CBD’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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