Sarraf Gentile LLP Announces Its Filing of a Class Action Lawsuit Against Magnum d'Or Resources Inc.
July 18 2011 - 4:18PM
Marketwired
The law firm of Sarraf Gentile LLP has filed a class action lawsuit
in the United States District Court for the Southern District of
Florida, case number 11-cv-61591, against Magnum d'Or Resources
Inc. ("Magnum") (PINKSHEETS: MDOR). The action is brought on behalf
of purchasers of Magnum stock between July 2, 2008 and April 13,
2010, inclusive (the "Class Period"). The Complaint asserts
violations of Sections 10(b) and 20(a) of the Securities Exchange
Act, 15 U.S.C. §§ 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated
thereunder, 17 C.F.R. § 240.10b-5.
The Complaint alleges that Magnum made false statements to the
marketplace about its growth and operations, including falsely
claiming that it had $130 million in contracts and $15 million in
financing. This positive news, according to the Complaint, pushed
Magnum's stock price up artificially, allowing insiders to carry
out an illegal kickback scheme using Magnum's own stock. On April
29, 2011, according to the Complaint, the SEC filed civil charges
against Magnum and several individuals involved in the scheme.
If you purchased shares of Magnum common stock during the Class
Period, you have 60 days from today to ask the Court to appoint you
as Lead Plaintiff, a representative of the proposed class. If you
want to discuss your legal rights, at no cost and without
obligation, please contact Joseph Gentile at Sarraf Gentile LLP
(Telephone: 212-868-3610; E-mail: joseph@sarrafgentile.com).
Sarraf Gentile LLP has extensive experience litigating
shareholder actions across the United States. The firm has
recovered millions of dollars on behalf of injured
shareholders.
Contact: Joseph Gentile, Esq. SARRAF GENTILE LLP One
Pennsylvania Plaza, Suite 2424 New York, NY 10119 T 212.868.3610 F
212.918.7967 www.sarrafgentile.com