NEW YORK, March 3, 2015 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in Medbox, Inc. ("Medbox" or the "Company") (OTC:
MDBX) of the March 23, 2015 deadline
to seek the role of lead plaintiff in a federal securities class
action lawsuit filed against Medbox and certain officers of the
Company.
A complaint has been filed in the United States District Court
for the Central District of California on behalf of all persons who
purchased Medbox common stock between November 20, 2013 and December 29, 2014 (the "Class Period").
The complaint alleges that the Company and its executives
violated federal securities laws with respect to its statements
concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period,
Medbox misrepresented and/or failed to disclose that the Company
overstated its revenues as a result of recognizing revenue on
customer contracts prior to it being earned.
On December 30, 2014, Medbox
announced that it was going to restate the past five quarters of
financial reports.
Following this news, the price of the Company's stock declined
by $67.51 per share from its Class
Period high, or over 91%, to close on December 30, 2014 at $6.39 per share.
Request more information now by clicking here:
www.faruqilaw.com/MDBX. There is no cost or obligation to
you.
Take Action
If you invested in Medbox common stock or
options between November 20, 2013 and
December 29, 2014 and would like to
discuss your legal rights, visit www.faruqilaw.com/MDBX. You
can also contact us by calling Richard
Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com. Faruqi &
Faruqi, LLP also encourages anyone with information regarding
Medbox's conduct to contact the firm, including whistleblowers,
former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients. To keep track of the
latest securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this
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(www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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