New York, N.Y., December 30, 2014. 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: (1) the year ended December 31, 2013, (2) the third and fourth quarters of 2013, and (3) the first and second quarters of 2014 could no longer be relied upon. 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 these adverse disclosures, 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 at http://rosenlegal.com/cases-468.html to join the class action or for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, 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.