SAN DIEGO, March 23, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of TCP International Holdings Ltd (NYSE:TCPI) over alleged Federal Securities Laws Violations by TCP International Holdings Ltd in connection with the Company's initial public offering ("IPO") on or about June 26, 2014.
Investors who purchased a significant amount of shares of TCP International Holdings Ltd (NYSE:TCPI) between June 26, 2014 and February 26, 2015 have certain options and for certain investors are short and strict deadlines running. Deadline: May 1, 2015. NYSE:TCPI investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that TCP International Holdings Ltd issued certain allegedly materially false and misleading statements to investors by failing to disclose the material deficiencies in the Company's disclosure controls and procedures and its internal control over financial reporting.
On February 26, 2015, TCP International Holdings' General Counsel and Chief Compliance Officer Laura Hauser filed a lawsuit against TCP International Holdings Ltd., its subsidiary and its CEO, Ellis Yan, claiming that the Company's Audit Committee found, among other things, that Ellis Yan obscured financial information and accountability to the Company's CFO and that overrode and/or disregarded various internal policies.
On March 20, 2015, NYSE:TCPI shares closed at $2.35 per share, which is significantly below its current 52 week high of $11.40 per share.
The lawsuit seeks to recover damages for certain TCP International Holdings investors.
Those who purchased a significant amount of shares of TCP International Holdings Ltd (NYSE:TCPI) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at email@example.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 firstname.lastname@example.org 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.