NEW ORLEANS, July 24, 2012 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 18, 2012 to file lead plaintiff applications in a securities class action lawsuit against Ignite Restaurant Group, Inc. (Nasdaq:IRG), if they purchased the Company's common stock in connection with the Company's May 10, 2012 initial public offering (the "IPO"), and between May 10, 2012 and July 18, 2012, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of Texas.
What You May Do
If you purchased shares of Ignite and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com), toll free at 877-694-9510, or via cell phone any time at 330-860-4092. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 18, 2012.
About the Lawsuit
Ignite and certain of its senior executives are charged with issuing a series of materially false and misleading statements, during the Class Period, in violation of federal securities laws.
The action charges that Ignite's IPO prospective contained materially false financial statements that improperly accounted for leases. On July 18, 2012, Ignite stated that it planned to restate its financial results for fiscal years 2009 through 2011, and the first quarter of fiscal 2012. The following day, Ignite shares declined over 20%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.