The Law Firm of Levi & Korsinsky Notifies Investors With Losses on Their Investment in JBI, Inc. of the Filing of a Class Act...
August 23 2011 - 3:00PM
Marketwired
Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the District of
Nevada on behalf of purchasers of the common stock of JBI, Inc.
("JBI" or the "Company") (PINKSHEETS: JBII) during the period of
August 28, 2009 and July 20, 2011 (the "Class Period").
For more information, click here: http://zlk.9nl.com/jbii/.
The complaint alleges that during the class period, JBI and
certain of its officers and directors issued misleading statements
regarding the value of media credits obtained through various
acquisitions. The complaint also alleges that the Company failed to
prepare financial results in accordance with Generally Accepted
Accounting Principles (GAAP) and failed to maintain sufficient
internal and financial controls at the Company.
On May 21, 2010, the Company disclosed that its financial
statements for the 2009 fiscal year and 2009 third quarter should
no longer be relied upon. Upon this news, shares of JBI declined
more than 20% per share. Furthermore, on July 20, 2011, JBI
disclosed that the SEC's Division of Enforcement issued a "Wells
Notice" indicating the staff's intention to recommend that the SEC
file a civil lawsuit against the Company.
If you are a member of the class and suffered a loss in JBI
stock, you have until September 26, 2011 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery is not affected by the decision whether or not to serve as
a lead plaintiff. To obtain additional information about your
rights, contact Joseph Levi, Esq. either via email at jlevi@zlk.com
or by telephone at (877) 363-5972, or visit
http://www.zlk.com/jbi-jbii.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard
Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004
Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171
www.zlk.com
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