WILMINGTON, Del., March 5, 2015 /PRNewswire/ -- Rigrodsky &
Long, P.A.:
- Do you, or did you, own shares of Corporate Resource
Services, Inc. (NASDAQ CM: CRRS)?
- Did you purchase your shares between July 1, 2014 and February
6, 2015, inclusive?
- Did you lose money in your investment in Corporate Resource
Services, Inc.?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant
United States Attorney, Timothy J.
MacFall, announces that a complaint has been filed in the
United States District Court for the Southern District of
New York on behalf of all persons
or entities that purchased the common stock of Corporate Resource
Services, Inc. ("CRRS" or the "Company") (NASDAQ CM: CRRS) between
July 1, 2014 and February 6, 2015, inclusive (the "Class Period"),
alleging violations of the Securities Exchange Act of 1934 against
the Company and certain of its officers (the "Complaint").
If you purchased shares of CRRS during the Class Period, or
purchased shares prior to the Class Period and still hold CRRS, and
wish to discuss this action or have any questions concerning this
notice or your rights or interests, please contact Timothy J.
MacFall, Esquire or Peter Allocco of
Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120,
Wilmington, DE 19803 at (888)
969-4242; by e-mail to info@rl-legal.com; or at:
http://www.rigrodskylong.com/investigations/corporate-resource-services-inc-crrs.
CRRS is a diversified technology staffing, recruiting, and
consulting services firm. The Complaint alleges that
throughout the Class Period, defendants made materially false and
misleading statements, and omitted materially adverse facts, about
the Company's business, operations and prospects.
Specifically, the Complaint alleges that the defendants concealed
from the investing public that that its co-employer, Tri-State
Employment Services, Inc. ("TSE"), had a material unpaid federal
payroll tax liability, which would adversely impact the Company and
that the Company was not in compliance with the Account Purchase
Agreements with Wells Fargo as of November
30, 2014. As a result of defendants' alleged false and
misleading statements, the Company's stock traded at artificially
inflated prices during the Class Period.
According to the Complaint, on February
6, 2015, the Company filed a Form 8-K with the SEC during
after-market hours revealing 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 on due to
TSE's material unpaid federal payroll tax liability.
On this news, shares in CRRS fell over 18%, closing at
$0.27 per share on February 9,
2015.
If you wish to serve as lead plaintiff, you must move the Court
no later than May 1,
2015. A lead plaintiff is a representative party
acting on behalf of other class members in directing the
litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member's claim is typical of
the claims of other class members, and that the class member will
adequately represent the class. Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. Any member of the proposed
class may move the court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member.
While Rigrodsky & Long, P.A. did not file the Complaint in
this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates
securities class, derivative and direct actions, shareholder rights
litigation and corporate governance litigation, including claims
for breach of fiduciary duty and proxy violations in the
Delaware Court of Chancery and in
state and federal courts throughout the
United States.
Attorney advertising. Prior results do not guarantee a
similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/rigrodsky--long-pa-announces-a-securities-fraud-class-action-lawsuit-has-been-filed-against-corporate-resource-services-inc-300046476.html
SOURCE Rigrodsky & Long, P.A.