SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of RiT Technologies Ltd. of Commencement of a Class Action Law...
September 12 2016 - 10:25AM
Business Wire
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who purchased or otherwise
acquired securities of RiT Technologies Ltd. (“RiT
Technologies”) (NASDAQ: RITT) between
March 3, 2015 and July 1, 2016. You are hereby
notified that a securities class action lawsuit has been
commenced in the USDC for the District of New Jersey. To get more
information go to:
http://www.zlk.com/pslra/rit-technologies-ltd
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period
defendants made false and/or misleading statements and/or failed to
disclose that: (1) RiT CIS Ltd. was RiT Technologies’ major
distributor in Russia and the Commonwealth of Independent States
region; (2) RiT CIS was vital to the viability of RiT Technologies;
and (3) as a result, RiT Technologies’ public statements were
materially false and misleading at all relevant times.
On February 11, 2016, RiT revealed that RiT CIS was “its major
distributor in Russia and the CIS region” and was delaying payments
to the Company, thus adversely impacting RiT’s current cash flow.
Then on April 20, 2016, the Company announced that the collection
progress for overdue debts was significantly lower than planned,
and that the CFO of RiT Technologies had resigned effective
immediately. Then on June 3, 2016, the Company announced the
resignation of its President and CEO.
If you suffered a loss in RiT Technologies you have until
September 26, 2016 to request that
the Court appoint you as lead plaintiff. Your ability to share in
any recovery doesn’t require that you serve as a lead
plaintiff.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience
representing investors in securities litigation, and have recovered
hundreds of millions of dollars for aggrieved shareholders.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160912005917/en/
Levi & Korsinsky, LLPJoseph E. Levi, Esq.Tel:
212-363-7500Toll Free: 877-363-5972Fax: 212-363-7171www.zlk.com
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