Ignite Restaurant Group Inc : Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Ignite Restaurant Group, Inc.
08/11/2012| 07:05pm US/Eastern
Glancy Binkow & Goldberg LLP announces that all purchasers of the common
stock of Ignite Restaurant Group, Inc. ("Ignite" or the "Company")
(NASDAQ:IRG) pursuant and/or traceable to the Registration Statement and
Prospectus issued in connection with the Company's May 10, 2012 initial
public offering (the "IPO"), have until September 18, 2012 to file a
motion with the Court to be appointed as Lead Plaintiff. The securities
fraud class action lawsuit was filed in the United States District Court
for the Southern District of Texas.
Ignite, together with its subsidiaries, owns and operates restaurants
under the Joe's Crab Shack and the Brick House Tavern+Tap brands. The
Complaint alleges that the Registration Statement and Prospectus issued
in connection with the Company's IPO contained material errors, dating
back to the Company's inception, related to the Company's accounting
treatment of leases.
On July 18, 2012 Ignite announced that following an internal assessment
of its lease accounting policies, the Company has determined that it is
necessary to correct non-cash related errors related to its accounting
treatment of certain leases. On July 19, 2012, following the Company's
announcement, shares of Ignite declined precipitously, more than 20%, on
unusually heavy volume.
If you purchased Ignite common stock pursuant or traceable to the
Company's May 10, 2012 initial public offering, you may move the Court,
no later than September 18, 2012 to serve as Lead Plaintiff; however,
you must meet certain legal requirements. To be a member of the Class
you need not take action at this time; you may retain counsel of your
choice or take no action and remain an absent Class member. To learn
more about this action, or if you have any questions concerning this
Notice or your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067, by
telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to email@example.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
201-9150 or (888) 773-9224
© Business Wire 2012