IMPORTANT INVESTOR ALERT: Goldberg Law PC Announces Securities Class Action Lawsuit Against AirMedia Group, Inc. & Advises Sh...
July 07 2015 - 4:19PM
Business Wire
Goldberg Law PC (www.Goldberglawpc.com) announces that a class
action lawsuit has been filed in the United States District Court
for the Southern District of New York against AirMedia Group, Inc.
(“AirMedia” or the “Company”) (NASDAQ: AMCN), for alleged
violations of the federal securities laws. Investors who purchased
or otherwise acquired shares between April 15, 2015 and June 15,
2015, inclusive (the “Class Period”), have until August 24, 2015 to
serve as lead plaintiff in the class action.
If you are a shareholder who suffered a loss during the Class
Period, we advise you to contact Michael Goldberg or Brian Schall,
of Goldberg Law PC, 13650 Marina Pointe Dr. Suite 1404, Marina Del
Rey, CA 90292, at 800-977-7401, to discuss your rights without cost
to you. You can also reach us through the firm’s website at
http://www.Goldberglawpc.com, or by email at
info@goldberglawpc.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
AirMedia is a leading operator of out-of-home advertising
platforms that focuses on selling time slots on its network in the
People’s Republic of China. The complaint alleges that the Company
made false and/or misleading statements regarding the sale of a 5%
interest in AirMedia’s advertising subsidiary, AirMedia Group Co.,
Ltd., to Shenzhen Liantronics Co. Ltd., and the value of the
subsidiary negotiated in the deal. The Company stated in a press
release that the deal reflected the value of AirMedia’s subsidiary
at $500 million. On June 15, 2015, the Company announced that it
had reached an agreement to sell a 75% equity interest in the
subsidiary to a Chinese fund manager at a significant discount from
the value the Company had previously claimed. When this news was
revealed, shares of AirMedia fell nearly 50% over a two-day
period.
If you have any questions concerning your legal rights in this
case, please immediately contact Goldberg Law PC at 800-977-7401,
or visit our website at http://www.Goldberglawpc.com, or email us
at info@goldberglawpc.com.
Goldberg Law PC represents shareholders around the world and
specializes in securities class actions and shareholder rights
litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150707006533/en/
Goldberg Law PC, Los AngelesMichael Goldberg, Esq.
800-977-7401Brian Schall, Esq.
800-977-7401info@goldberglawpc.comhttp://www.Goldberglawpc.comhttps://twitter.com/goldberglawpchttps://www.facebook.com/pages/Goldberg-Law-PC/850505465033804?fref=ts
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