SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Quicksilver Inc...
April 27 2015 - 8:38PM
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.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com