INVESTOR ALERT: Class Action Lawsuit Against GrowLife, Inc. Filed by Glancy Binkow & Goldberg LLP
April 28 2014 - 02:44PM
Business Wire
Glancy Binkow & Goldberg LLP, representing investors of
GrowLife, Inc. (“GrowLife” or the “Company”) (OTCBB:PHOT), has
filed a class action lawsuit in the United States District Court
for the Central District of California on behalf of a class (the
“Class”) comprising all purchasers of GrowLife securities between
November 14, 2013 and April 9, 2014, inclusive (the “Class
Period”).
Please contact Glancy Binkow & Goldberg LLP, toll-free at
888-773-9224 or at 212-682-5340, or by email to
shareholders@glancylaw.com to discuss this matter.
GrowLife manufactures and supplies plant growing systems,
branded equipment and expendables for urban gardening, primarily
for cultivation of medical marijuana, in the United States. The
Complaint alleges that throughout the Class Period defendants
issued false and misleading statements or failed to disclose that:
(1) the Company had provided inaccurate and/or inadequate
information about its stock and engaged in potentially manipulative
transactions; (2) the Company lacked adequate internal and
financial controls; and (3) as a result, the Company’s financial
statements were materially false and misleading at all relevant
times.
On April 10, 2014, the Securities and Exchange Commission
announced that it is temporarily suspending trading of GrowLife
securities. According to a statement issued by the SEC, trading of
the Company’s securities has been suspended until April 29, 2014,
“because of questions that have been raised about the accuracy and
adequacy of information in the marketplace and potentially
manipulative transactions in [the Company’s] common stock.”
If you are a member of the Class described above, you may move
the Court no later than June 17, 2014, to serve as lead plaintiff,
if you 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. If you wish to learn more about this action, or have any
questions concerning this announcement 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. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
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, 212-682-5340 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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