INVESTOR ALERT: Class Action Lawsuit Against GrowLife, Inc. Announced by Law Offices of Howard G. Smith
May 06 2014 - 10:32AM
Business Wire
Law Offices of Howard G. Smith announces that a class action
lawsuit has been filed in the United States District Court for the
Central District of California on behalf of all purchasers of the
securities of GrowLife, Inc. (“GrowLife” or the “Company”) (OTC
BB:PHOT) between November 14, 2013 and April 9, 2014, inclusive
(the “Class Period”).
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 a temporary suspension of trading of GrowLife securities.
According to a statement issued by the SEC, trading was temporarily
suspended “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 have until
June 17, 2014, to move the Court 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, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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