Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Wednesday, May 6, 2015
Faruqi & Faurqi Law Alerts: Rubicon Technology, Inc.
RUBICON TECHNOLOGY INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Rubicon Technology, Inc. To Contact The Firm - RBCN
Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in Rubicon Technology, Inc. (“Rubicon” or the “Company”) (NASDAQ: RBCN) of the June 29, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Rubicon, certain executives and directors and the underwriters of the Company’s public offering (the “Offering”).
A complaint has been filed in the Northern District of Illinois on behalf of all persons who purchased Rubicon common stock in the Company’s Offering on or about March 19, 2014.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that the documents issued pursuant to the Offering did not disclose material trends, events and uncertainties, including the reversal of Rubicon’s trend of shrinking losses, high development costs and inventory write-offs.
On May 1, 2014, the Company published a press release and held a conference call discussing disappointing financial results and disclosing that its trend of shrinking losses had reversed in the first quarter of 2014.
Following this news, the price of Rubicon’s stock declined by $1.67 per share, or over 16%, to close at $8.51.
If you invested in Rubicon stock or options in the Company’s Offering on or about March 19, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.