Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against MedBox, Inc.
Oklahoma City, OK (January 23, 2015) – On January 21, 2015, a securities class action lawsuit was filed in the United States District Court for the Central District of California against MedBox, Inc. (OTC QB: MDBX) and certain of its officers. The complaint alleges violations of the Securities Exchange Act of 1934, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is November 20, 2013 through December 29, 2014. More specifically, this litigation was alleges that MedBox overstated its revenues by recognizing revenue on customer contracts before it had been earned. The Company announced on December 30, 2014 that is financial statements for (1) 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. As a result of the false statements, the Company’s stock traded at artificially inflated prices during the Class Period.
Plaintiff seeks to recover damages on behalf of all MedBox, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, March 23, 2015 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to firstname.lastname@example.org, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Fri, January 23, 2015
by Robin Hester filed under