Izard Nobel LLP Announces Class Action Lawsuit Against RHI Entertainment, Inc.
14 October 2009 - 4:33AM
Marketwired
The law firm of Izard Nobel LLP, which has significant experience
representing investors in prosecuting claims of securities fraud,
announces that a lawsuit seeking class action status has been filed
in the United States District Court for the Southern District of
New York on behalf of those who purchased 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.
The complaint charges RHI Entertainment and certain of its
executives violated federal securities laws. It is alleged that,
throughout the Class Period, defendants made positive statements
regarding the Company's financial condition, business and
prospects. Specifically, the description of the Company's business
in the Form S-1/A Registration Statement (the "Registration
Statement") filed in connection with the IPO, on or about June 19,
2008, created 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. The complaint further alleges that
these statements were materially false and misleading because
defendants failed to disclose that, given the declining state of
the credit markets and other negative factors then impacting the
Company's business, RHI Entertainment would not be able to complete
40 MFT movies and miniseries in 2008.
If you are a member of the class, you may, no later than
December 8, 2009, request that the Court appoint you as lead
plaintiff of the class. A lead plaintiff is a class member that
acts on behalf of other class members in directing the litigation.
Although your ability to share in any recovery is not affected by
the decision whether or not to seek appointment as a lead
plaintiff, lead plaintiffs make important decisions which could
affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the
defendants, to view a copy of the Complaint initiating the class
action or for more information about the case, and your rights,
visit: www.izardnobel.com/rhientertainment/, or contact Izard Nobel
LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com.
For more information about class action cases in general, please
visit our website: www.izardnobel.com.
CONTACT: Nancy A. Kulesa or Wayne Boulton (800) 797-5499
www.izardnobel.com Email Contact
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