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 Corporate Resource Services Inc (OTCMKTS:CRRS, formerly NASDAQ:CRRS) over alleged Federal Securities Laws Violations by Corporate Resource Services Inc.
Investors who purchased a significant amount of shares of Corporate Resource Services Inc (Nasdaq:CRRS) between July 1, 2014 and February 6, 2015 and suffered a significant financial loss, and / or those who purchased any NASDAQ:CRRS shares prior to July 2014 and continue to hold any of those shares have certain options and for certain investors are short and strict deadlines running. Deadline: May 1, 2015. CRRS investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that Corporate Resource Services issued certain allegedly materially false and misleading statements to investors by failing to disclose that its co-employer, Tri-State Employment Services, Inc., had a material unpaid federal payroll tax liability, which would adversely impact the Company and the Company was not in compliance with the Account Purchase Agreements with Wells Fargo as of November 30, 2014 and that when the truth was revealed to investors, the price of Corporate Resource Services common stock dropped, damaging investors.
The plaintiff says that through partial disclosures beginning in early February 2015, Corporate Resource Services Inc revealed that Corporate Resource Services Inc was in noncompliance with a funding agreement it has with Wells Fargo, that Corporate Resource Services Inc's financial statements for 2014 could no longer be relied upon, that several members of Corporate Resource Services Inc's audit committee resigned, and that an internal investigation required by the former audit committee members would not be funded.
Shares of Corporate Resource Services Inc declined to as low as $0.022 per share on March 16, 2015.
The lawsuit seeks to recover damages for certain Corporate Resource Services investors.
Those who purchased a significant amount of shares of Corporate Resource Services Inc (CRRS) between July 1, 2014 and February 6, 2015 and suffered a significant financial loss, and / or those who purchased any CRRS shares prior to July 2014 and continue to hold any of those shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at firstname.lastname@example.org 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 email@example.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.