Brower Piven Encourages Investors Who Have Losses in Excess of $50,000 From Investment in National Lampoon, Inc. to Inquire Abou
11 December 2010 - 7:29AM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Central District of California on behalf of
purchasers of the common stock of National Lampoon, Inc. ("National
Lampoon" or the "Company") (PINKSHEETS: NLMP) during the period
between, March 1, 2008 and December 15, 2008, inclusive (the "Class
Period").
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 February 7, 2011 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.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose material facts to investors during the Class Period
that National Lampoon and its former CEO Daniel Laikin engaged in
an unlawful scheme to inflate the price of National Lampoon stock
by paying "consultants" to purchase the stock. According to the
complaint, the Company and its officers perpetrated the scheme in
order to create the illusion of an active and liquid market in the
Company's shares to drive up the price and make the stock appear
attractive and the company successful. According to the complaint,
after, on December 15, 2008, former CEO Daniel Laikin and others
were charged with conspiracy and securities fraud by federal
prosecutors, in connection with the market manipulation scheme, the
value of National Lampoon stock declined significantly.
If you have suffered a net loss for all transactions in National
Lampoon, Inc. common stock during the Class Period, 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 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 50 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 Stevenson, Maryland 410/415-6616 Email Contact
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