Law Offices of Howard G. Smith, Representing Investors of NIVS Intellimedia Technology Group, Inc., Announces a May 31, 2011 ...
April 25 2011 - 9:30PM
Business Wire
Law Offices of Howard G. Smith, representing investors of NIVS
Intellimedia Technology Group, Inc., announces a May 31, 2011
deadline to move to be a lead plaintiff in the class action lawsuit
filed in the United States District Court for the Central District
of California on behalf of all purchasers of the securities of NIVS
Intellimedia Technology Group, Inc. (“NIVS” or the “Company”)
(NYSEAmex:NIV) between March 24, 2010
and March 25, 2011, inclusive (the “Class Period”).
NIVS is an integrated consumer electronics company that designs,
manufactures, markets and sells intelligent audio and video
products and mobile phones in China, Greater Asia, Europe and North
America. The Complaint alleges that throughout the Class Period the
defendants made false and/or misleading statements and/or failed to
disclose that: (1) the Company had inaccurately recorded certain
transactions; (2) there were discrepancies in the Company’s
accounts receivables; (3) the Company was engaged in improper acts
involving the Company’s accounting records and bank statements; (4)
as a result, the Company’s financial results were not prepared in
accordance with Generally Accepted Accounting Principles; (5) the
Company lacked adequate internal controls; and (6), as a result of
the foregoing, the Company’s financial results were false and
misleading at all relevant times.
No class has yet been certified in the above action. Until a
class is certified, you are not represented by counsel unless you
retain one. If you purchased NIVS securities between March 24, 2010
and March 25, 2011, you have certain rights and have until May 31,
2011, to move for lead plaintiff status. To be a member of the
class you need not take any action at this time, and you may retain
counsel of your choice. If you wish to discuss this action or have
any questions concerning this Notice or your rights or interests
with respect to these matters, 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, by email to
howardsmith@howardsmithlaw.com or visit our website at
http://www.howardsmithlaw.com.
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