Securities Class Action Lawsuit Filed Against RHI Entertainment (RHIE)
Sat. October 10, 2009; Posted: 12:05 PM
Oct 10, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/10/2009 - The Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of all persons or entities who purchased the common stock of RHI Entertainment, Inc. (NASDAQ:RHIE) traceable to its IPO, which was on June 19, 2008. The lawsuit was filed in U.S. District Court for the Southern District of New York. The suit was brought on because the Complaint alleges that RHI Entertainment violated federal securities laws by issuing a false and misleading Registration Statement and Prospectus, among other things. The statement allegedly failed to disclose material adverse information concerning the company's business, prospects and financial condition, which caused inflation of price of the securities.
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