Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In root9B Technologies Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in root9B Technologies Inc. (“root9B” or the “Company”) (OTC:RTNB) of the August 24, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased or otherwise acquired root9B securities between December 1, 2014 and June 15, 2015 (the “Class Period”).
The complaint focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (i) root9B lacks an advanced cyber security product offering and (ii) a substantial portion of the Company’s Cyber Solutions segment is made up of a one-time low margin hardware installation, from which root9B is moving away.
On June 15, 2015, an article was published on SeekingAlpha.com alleging that a large portion of the Cyber Solutions segment was actually a one-time low margin hardware installation and that the Company was moving away from it in the future.
Following this news, the share price fell $0.17 per share to close at $1.70 per share, a 9% drop, on June 15, 2015.
If you invested in root9B stock or options between December 1, 2014 and June 15, 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 root9B’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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