STEVENSON, Md., Nov. 6, 2012 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of all persons or entities who purchased Chanticleer Holdings, Inc. ("Chanticleer" or the "Company") (Nasdaq:HOTR) (Nasdaq:HOTRW) (Nasdaq:HOTRU) Units pursuant and/or traceable to the Company's June 21, 2012 secondary offering ("SPO") including those who purchased Chanticleer common stock or Units between June 21, 2012 and September 10, 2012, inclusive ("Class Period").
If you have suffered a net loss for all transactions in Chanticleer Holdings, Inc. pursuant to the Company's June 21, 2012 secondary offering, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than December 12, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the Company's failure to disclose in the SPO documents and/or during the Class Period that, contrary to Chanticleer's representation that the financial statements for its South African operations, accounting for a majority of Chanticleer's revenues, had been audited, in reality, they had not been audited. According to the complaint, when Chanticleer revealed that the financial statements for its South African operations had, indeed, not been audited, trading in Chanticleer stock was halted.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 email@example.comSource: Brower Piven, A Professional Corporation