Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Corporate Resource Services, Inc. (CRRS) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Corporate Resource Services, Inc. (“CRS” or the “Company”) (Nasdaq: CRRS) of the May 1, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against CRS and certain executives.
A complaint has been filed in the Eastern District of New York on behalf of all persons who purchased CRS common stock between July 1, 2014 through February 6, 2015, inclusive (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, CRS misled its investors by failing to disclose that Tri-State Employment Services, Inc. (“TSE”), its co-employer, had an unpaid federal payroll tax liability.
On February 6, 2015, CRS filed a Form 8-K disclosing that the financial statements for the year ended January 3, 2014 and the quarters ended April 4, 2014, July 4, 2014, and October 3, 2014 can no longer be relied upon in connection with TSE’s material unpaid federal payroll tax liability.
Following this news, the price of CRS stock declined by $0.04 or over 14%, to close at $0.23 on February 10, 2015.
If you invested in CRS stock or options between July 1, 2014 through February 6, 2015 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 CRS’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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