SAN DIEGO, June 3, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on June 17, 2014 in the lawsuit filed on behalf of certain investors in shares of Growlife Inc (PHOT) over alleged Securities Laws Violations by Growlife Inc.
If you either purchased a significant amount of shares of Growlife Inc (PHOT) between November 14, 2013 and April 9, 2014, you have certain options and for certain investors are short and strict deadlines running. Investors with a substantial investment in shares of Growlife Inc (PHOT) should contact the Shareholders Foundation before June 17, 2014 at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that Growlife Inc violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that between November 14, 2013 and April 9, 2014 Growlife Inc issued allegedly materially false and misleading statements about its true financial condition.
More specifically, the plaintiff alleges that between November 14, 2013 and April 9, 2014 defendants issued allegedly false and misleading statements or failed to disclose that Growlife Inc had provided inaccurate and/or inadequate information about its stock and engaged in potentially manipulative transactions, that Growlife Inc lacked adequate internal and financial controls, and that as a result, Growlife Inc's financial statements were materially false and misleading at all relevant times.
On April 10, 2014, the Securities and Exchange Commission ("SEC") temporarily suspended trading of GrowLife securities for 10 market days. The SEC said that it was suspending the trading because of concerns regarding the accuracy and adequacy of information
The plaintiff seeks to recover damages on behalf of all purchasers of Growlife Inc (PHOT) common stock between November 14, 2013 and April 9, 2014.
Those who purchased shares of Growlife Inc have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.