SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Quicksilver Inc...
April 14 2015 - 4:42PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Central
District of California on behalf of purchasers of Quicksilver Inc.
(“Quicksilver” or the “Company”) (NYSE: ZQK) securities during the
period between June 6, 2014 through March 26, 2015, inclusive (the
“Class Period”). Investors who wish to become proactively involved
in the litigation have until June 1, 2015 to seek appointment as
lead plaintiff.
If you have suffered a loss from investment in Quicksilver
securities purchased on or after June 6, 2014 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above action.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Company securities during the Class Period. Brower
Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Company was
employing questionable revenue recognition practices.
According to the complaint, following the Company’s March 4,
2015 disclosure that there would be a delay in the Company’s
release of its financial results for the first quarter of 2015 due
to management’s identification of a revenue recognition issue
brought to the attention of its Audit Committee, the March 26, 2015
announcement that the Company’s internal controls over financial
reporting, contrary to its previous reporting, were ineffective as
of October 31, 2014, and the March 27, 2015 announcement of the
sudden resignation of the Company’s CEO and CFO, the value of
Quicksilver shares declined significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com