NEW YORK, Oct. 18, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased LightInTheBox Holding Co., Ltd. ("LightInTheBox" or the "Company") (NYSE:LITB) between June 6, 2013 and August 19, 2013.
For more information, click here: http://zlk.9nl.com/lightinthebox-holding-litb/.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (a) the Company's sales growth had dramatically decreased during the second quarter of 2013; (b) the Company's costs had grown more than its sales during the second quarter of 2013; and (c) as a result of the foregoing, the Company was not on track to achieve the financial results defendants had led the market to expect during the class period.
On August 19, 2013, LightInTheBox reported financial results for the second quarter 2013 that fell well below expectations; the Company further reported that demand for its product was much weaker than previously stated. The following day shares of LightInTheBox fell from a close of $19.27 per share to a close of $11.58 per share.
If you suffered a loss in LightInTheBox you have until October 28, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/lightinthebox-holding-litb/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP