Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Furniture Brands International...
October 11 2013 - 9:32PM
Business Wire
Glancy Binkow & Goldberg LLP announces that all purchasers
of Furniture Brands International, Inc. (“Furniture Brands” or the
“Company”) (OTC Markets:FBNIQ) securities between February 13, 2013
and August 5, 2013, inclusive (the “Class Period’), have until
October 15, 2013 to file a motion to be appointed as lead plaintiff
in the shareholder lawsuit filed in the United States District
Court for the Eastern District of Missouri.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM
GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT
212-682-5340, TOLL-FREE AT 888-773-9224, OR AT
SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER OR IF YOU
PURCHASED FURNITURE BRANDS SHARES PRIOR TO THE CLASS PERIOD. IF YOU
INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE
NUMBER AND NUMBER OF SHARES PURCHASED.
Furniture Brands engages in designing, manufacturing, sourcing
and retailing home furnishings in the United States and
internationally. The Company’s trade names include, among others,
Thomasville, Broyhill, Lane, Drexel Heritage, and Henredon. The
Company carries its trade names on its books as assets, which are
tested annually for impairment by comparing the carrying value and
fair value of each trade name to determine the amount, if any, of
impairment.
The Complaint alleges that during the Class Period defendants
issued false and misleading statements or failed to disclose that:
(1) the Company was experiencing weaknesses in its wholesale
business; (2) the Company’s trade names were being carried at
inflated values that would require material impairments; (3) the
Company was experiencing severe liquidity issues; (4) and based on
the foregoing, the defendants lacked a reasonable basis for their
positive statements about the Company during the Class Period.
If you are a member of the Class described above you may move
the Court no later than October 15, 2013 to serve as lead
plaintiff; however, you must meet certain legal requirements. To be
a member of the Class you need not take any action at this time;
you may retain counsel of your choice or take no action and remain
an absent member of the Class.
To learn more about this action or if you purchased Furniture
Brands shares prior to the Class Period and have any questions
concerning this Notice or your rights or interests with respect to
these matters, please contact Michael Goldberg, Esquire, of Glancy
Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067, Toll-Free at 888-773-9224, or contact
Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122
E. 42nd Street, Suite 2920, New York, New York 10168, at
212-682-5340, by e-mail to shareholders@glancylaw.com, or visit our
website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael
Goldberg, 888-773-9224orGlancy Binkow & Goldberg LLP, New York,
NYGregory Linkh, 212-682-5340shareholders@glancylaw.comwww.glancylaw.com