WILMINGTON, Del.--(EON: Enhanced Online News)--Rigrodsky & Long, P.A.:
“a lack of current and accurate information about the company concerning, among other things, the control of its stock, its market price, and trading in the stock.”
- Do you, or did you, own shares of Liberty Silver Corporation (OTC GREY: LBSV)?
- Did you purchase your shares between April 1, 2008 and October 5, 2012, inclusive?
- Did you lose money in your investment in Liberty Silver Corporation?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Southern District of Florida on behalf of all persons or entities that purchased the common stock of Liberty Silver Corporation (“Liberty Silver” or the “Company”) (OTC GREY: LBSV) between April 1, 2008 and October 5, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Liberty Silver on the OTC GREY Market during the Class Period and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/liberty-silver-corporation-lbsv.
Liberty Silver was incorporated for the purpose of engaging in mineral exploration activities. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that defendant Robert Genovese (“Genovese”) employed the use of buying and selling massive blocks of Liberty Silver stock, fabricated newsletters, false and misleading reports, paid celebrity endorsements, deceitful offerings to other companies, using nominees and offshore companies to purchase stock on his behalf, and appointing officers/directors who are easily controlled by Genovese, all so that Genovese could make huge profits while leaving the Company and investors in financial ruin. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on October 5, 2012, the United States Securities and Exchange Commission (“SEC”) Division of Enforcement halted trading of Liberty Silver for a period of nearly two weeks resulting in the issuer being downgraded to the Grey Market pursuant to rule 15c-11. According to the SEC, the reasons for the halt were “a lack of current and accurate information about the company concerning, among other things, the control of its stock, its market price, and trading in the stock.”
Upon the resumption of trading on October 19, 2012, shares of Liberty Silver stock plummeted more than 90%, closing at $0.15 per share, from a close of $1.55 on October 4, 2012.
If you wish to serve as lead plaintiff, you must move the Court no later than November 11, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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