Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in RHI Entertainment, Inc. to Inquire Ab
October 14 2009 - 5:36PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of New York on behalf of purchasers
of the common stock of RHI Entertainment, Inc. ("RHI Entertainment"
or the "Company") (NASDAQ: RHIE) pursuant and or traceable to the
Company's initial public offering (the "IPO" or the "Offering") on
or about June 19, 2008.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than December 8, 2009 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff. You may
contact Brower Piven (through hoffman@browerpiven.com or
410/986-0036) to answer any questions you may have in that
regard.
The complaint accuses the defendants of violations of the
Securities Act of 1933 by virtue of the registration statement and
prospectus for the Company's initial public offering ("IPO") on or
about June 19, 2008 creating the materially misleading impression
that, at the time of the IPO, the Company had orders for 40 MFT
movies and mini-series which had been paid for, were in production
and would be delivered in the later half of the year when, in
truth, given the declining state of the credit markets and other
negative factors then impacting the Company's business, the Company
would not be able to complete 40 MFT movies and miniseries in 2008.
As a consequence of the foregoing, investors who are members of the
proposed class suffered losses from their investment in RHI
Entertainment common stock.
If you have suffered a net loss for all transactions in RHI
Entertainment, Inc. common stock pursuant and/or traceable to the
IPO on or about June 19, 2008, you may obtain additional
information about this lawsuit and your ability to become a lead
plaintiff by contacting Brower Piven at www.browerpiven.com, by
email at hoffman@browerpiven.com, by calling 410-986-0036, or at
Brower Piven, A Professional Corporation, The World Trade
Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore,
Maryland 21202. Attorneys at Brower Piven have combined experience
litigating securities and class action cases of over 40 years. If
you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Baltimore, Maryland 410/986-0036 Email Contact
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