NEW YORK — (BUSINESS WIRE) — Milberg LLP announces that a class action lawsuit was filed in the United States District Court for the Southern District of Texas on behalf of purchasers of Ignite Restaurant Group, Inc. (“Ignite” or the “Company”) (IRG) common stock pursuant to the Registration Statement and Prospectus issued in connection with the Company’s May 10, 2012, initial public offering (the “IPO”).
Milberg LLP has created a website that seeks to answer common questions about shareholder class actions.
The complaint alleges that Ignite violated the Securities Act of 1933 because the Company’s IPO documents contained false financial statements which improperly accounted for leases.
On July 18, 2012, Ignite announced that it will restate its previously issued financial statements for years 2009 through 2011 and for the first quarter of 2012 after an accounting review revealed non-cash related errors on certain leases. Ignite shares fell 20.51% on July 19, 2012 and continued to fall over the next two trading days.
If you purchased Ignite shares pursuant to the Company’s May 10, 2012 IPO, you may, no later than September 18, 2012, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a class member that represents other class members in directing the litigation. Your share in any recovery will not be affected by serving as a lead plaintiff, however, lead plaintiffs make important decisions that could affect the overall recovery for class members. You do not need to be a lead plaintiff to recover. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel. The complaint in this action was not filed by Milberg.
If you would like to learn more about this potential matter, please fill out the form on the right or contact the following attorney:
Andrei Rado, Esq.
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Milberg LLP has been representing consumers and investors for more than four decades and serves as lead counsel in federal and state courts throughout the United States.
Prior Results Do Not Guarantee A Similar Outcome.