The Rosen Law Firm Announces Investigation of Securities Claims Against Medbox, Inc. – MDBX
NEW YORK–(BUSINESS WIRE)–
The Rosen Law Firm announces that it is investigating potential securities fraud claims against Medbox, Inc. (“MDBX”) resulting from evidence that the Company may have issued materially misleading financial information to the investing public.
On December 30, 2014, Medbox announced that its financial statements for: (i) the year ended December 31, 2013, (ii) the third and fourth quarters of 2013, and (iii) the first and second quarters of 2014 can no longer be relied upon, as they are materially inaccurate. Specifically, Medbox admitted that an internal investigation by its Audit Committee revealed that Medbox improperly recognized revenue, in violation of Generally Accepted Auditing Principles (“GAAP”). As a result of this adverse news, the value of Medbox stock fell from $5.98 to $5.11, or 14.5%, when the market opened on December 30, 2014.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of Medbox investors. If you purchased Medbox stock between November 20, 2013 and December 29, 2014, please visit the website athttps://www.rosenlegal.com/cases-468.html to join the class action or for more information. You may also contact Phillip Kim, Esq. or Laurence Rosen, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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