NEW YORK, Dec. 4, 2010 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced that a class action lawsuit has been filed on behalf of purchasers of Mecox Lane Limited ("Mecox Lane" or the "Company") (Nasdaq:MCOX) shares pursuant to its October 2010 Initial Public Offering.
If you purchased Mecox Lane during the period from October 26, 2010 through November 29, 2010, inclusive, you can join the class action against Mecox Lane. Go to the firm's website at or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653. You may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint alleges that Mecox Lane, certain of its officers and directors, and others are liable under Sections 11 and 15 of the Securities Act of 1993 in connection with the issuance of an inaccurate registration statement in connection with the Company's IPO.
Particularly, the Complaint alleges that contrary to the Company's registration statement filed with the SEC, the Company's gross margins had been adversely impacted by increased costs and expenses which made it impossible for Mecox Lane to achieve the results defendants projected at the time of the IPO. The Complaint alleges that when the truth was revealed on November 29, 2010, the value of the Company's shares dropped damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than February 1, 2011. A lead plaintiff is a representative party that acts on behalf of absent class members in directing and overseeing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at .
The Rosen Law Firm concentrates its practice on investor securities litigation, representing investors throughout the world. The Rosen Law Firm has substantial experience litigating matters involving companies based in the People's Republic of China.
Attorney Advertising. Prior results do not guarantee a similar outcome.
CONTACT: The Rosen Law Firm P.A. Laurence Rosen, Esq. lrosen@rosenlegal.com Phillip Kim, Esq. pkim@rosenlegal.com (212) 686-1060 Weekends/After-hours Tel: (917) 797-4425 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 www.rosenlegal.com 275 Madison Avenue, 34th Floor New York, New York 10016