NEW YORK, Sept. 4, 2013 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased LightInTheBox Holding Co., Ltd. (the "Company") (NYSE:LITB) American Depository Shares ("ADSs") during the period between the initial public offering ("IPO") on June 6, 2013 and August 19, 2013, inclusive (the "Class Period").
The Complaint alleges that Defendants misrepresented or failed to disclose the following adverse facts: (i) the Company's sales growth had dramatically decreased during the second quarter of 2013, the period ended June 30, 2013; (ii) the Company's costs had grown more than its sales during the second quarter of 2013; and (iii) 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.
If you wish to serve as lead plaintiff, you must move the Court no later than October 28, 2013. 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 Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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