NEW ORLEANS, Sept. 5, 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 October 29, 2012 to file lead plaintiff applications in a securities class action lawsuit against Assisted Living Concepts, Inc. (NYSE:ALC), if they purchased the Company's common stock during the period between March 12, 2011 and August 6, 2012, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of Wisconsin.
What You May Do
If you purchased shares of Assisted Living Concepts, 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 877-69,4-9510, 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 October 29, 2012.
About the Lawsuit
Assisted Living Concepts 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.
On August 7, 2012, shares of Assisted Living Concepts declined significantly, after the company announced that it was the subject of an investigation by the Securities and Exchange Commission concerning, among other things, compliance with occupancy covenants and the company's unreported practice of leasing its units to employees and not independent customers.
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.