SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Corporate Resou...
April 06 2015 - 6:24PM
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 Eastern
District of New York on behalf of purchasers of Corporate Resource
Services, Inc. (“CRS” or the “Company”) (Other OTC: CRRS) common
stock during the period between July 1, 2014 and February 6, 2015,
inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until May 1, 2015 to
seek appointment as lead plaintiff.
If you have suffered a loss from investment in CRS common stock
purchased on or after July 1, 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 common stock 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 Tri-State
Employment Services, Inc. (“TSE”), CRS’s contractual co-employer,
had an unpaid federal payroll tax liability. According to the
complaint, following the Company’s January 12, 2015 announcement of
the resignation of the Company’s CFO, Michael Golde, the Company’s
February 3, 2015 announcement that the Company was not in
compliance with its Net Worth covenants under certain bank
agreements and the Company’s bankruptcy filing, and following the
Company’s February 6, 2015 announcement that the Company’s
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 upon, the value of CRS 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
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