Levi & Korsinsky Notifies Investors with Losses on their Investment in
Rosetta Stone, Inc. of Class Action Lawsuit
Levi & Korsinsky announces that a class action lawsuit has been commenced
in the United States District Court for the Eastern District of Virginia
on behalf of purchasers of Rosetta Stone, Inc. (NYSE: RST) who purchased
stock between February 25, 2010 and March 1, 2011.
New York, NY, March 30, 2011 -- Levi & Korsinsky announces that a class
action lawsuit has been commenced in the United States District Court for
the Eastern District of Virginia on behalf of purchasers of Rosetta
Stone, Inc. (NYSE: RST) who purchased stock between February 25, 2010 and
March 1, 2011 (the “Class Period”).
The complaint alleges that Rosetta Stone and certain of its officers
and/or directors violated the Securities Exchange Act of 1934 by failing
to disclose particular facts regarding the Company’s true financial
condition, business and prospects. In particular, the complaint alleges
that, among other violations: (a) free and lower-priced competitive
product offerings, rather than reductions in advertising, had a
materially adverse effect on the Company’s revenues; (b) the Company
reported sales bookings and revenues that were the direct product of
manipulation; (c) based on the allegations above, defendants lacked a
reasonable basis for positive statements made regarding Rosetta Stone’s
On February 28, 2010, Rosetta Stone issued a press release announcing its
results for the fourth quarter and year ended December 31, 2010. The
Company reported a revenue decrease of 5% from the prior year end. Upon
this news, shares of Rosetta Stone stock fell $1.77 per share, closing at
$13.19 per share.
If you are a member of the class and suffered a loss in Rosetta Stone
stock, you have until May 23, 2011 to request that the Court appoint you
as lead plaintiff. Your ability to share in any recovery is not affected
by the decision whether or not to serve as a lead plaintiff. To obtain
additional information about your rights, contact Joseph E. Levi, Esq.
either via email at email@example.com or by telephone at (877) 363-5972, or
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. For more information,
please feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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
New York, NY 10004