NEW YORK, April 18, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that it has filed a class action lawsuit on behalf of purchasers of GrowLife, Inc. (OTC:PHOT) securities between November 14, 2013 and April 9, 2014, inclusive (the "Class Period"), seeking to recover damages for violations of the federal securities laws.
To join the GrowLife class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email at firstname.lastname@example.org or email@example.com for information on the class action. The lawsuit is pending in the U.S. District Court for the Central District of California.
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 MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, GrowLife issued materially false and misleading statements about its true financial condition. On April 10, 2014, the U.S. Securities and Exchange Commission (the "SEC") temporarily suspended trading of GrowLife securities. In suspending the trading of GrowLife securities, the SEC stated that "[t]he Commission temporarily suspended trading in the securities of PHOT because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in PHOT's common stock." On April 11, 2014, analyst Rolling O Research published an article questioning GrowLife's share-based compensation practices.
If you wish to serve as lead plaintiff, you must move the Court no later than June 17, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at firstname.lastname@example.org or email@example.com. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Contact Information: Laurence M. Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 firstname.lastname@example.org email@example.com firstname.lastname@example.org www.rosenlegal.comSource: The Rosen Law Firm PA PC