The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into
Possible Securities Laws Violations by Kid Brands, Inc.
Levi & Korsinsky is investigating potential claims on behalf of
purchasers of the securities of Kid Brands, Inc. (NYSE: KID) concerning
possible violations of federal securities laws.
New York, NY, March 22, 2011 -- Levi & Korsinsky is investigating
potential claims on behalf of purchasers of the securities of Kid Brands,
Inc. (NYSE: KID) concerning possible violations of federal securities
On March 15, 2011, Kid Brands announced it would delay the filing of its
Annual Report for the year ended December 31, 2010 due to information
uncovered during an investigation into practices at its LaJobi
subsidiary. The investigation found instances where incorrect import
duties were applied to furniture imported from vendors in China,
resulting in violations of anti-dumping regulations. As a result of the
continuing investigation, LaJobi’s President, Larry Bivona, was
terminated. Following the announcement, shares of Kid Brands dropped from
a close of $9.24 per share on March 14, 2011 to a trading low of $6.57 on
March 15, 2011.
The investigation concerns whether the Kid Brands issued materially
inaccurate financial statements to the investing public and whether the
officers and directors of the company failed to exercised appropriate
oversight over the LaJobi subsidiary.
If you own Kid Brands stock and wish to obtain additional information
about the investigation and your legal rights, please contact Joseph E.
Levi, Esq. either via email at email@example.com or by telephone at (212)
363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/kid-
Levi & Korsinsky has expertise in prosecuting investor securities
litigation and extensive experience in actions involving financial fraud
and represents investors throughout the nation, concentrating its
practice in securities and shareholder litigation. The attorneys at Levi
& Korsinsky have been appointed by numerous courts throughout the country
to serve as lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please feel
free to contact any of the attorneys listed below. Attorney advertising.
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Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky,
Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-
7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Levi & Korsinsky, LLP
30 Broad St, 15th Floor
New York, NY 10004