INVESTOR ALERT: Rosen Law Firm Reminds Digital Domain Media Group Investors of
Important November 19, 2012 Class Action Deadline -- DDMGQ
NEW YORK, Nov. 10, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds
investors of the November 19, 2012 lead plaintiff deadline in the class action
lawsuit filed by the firm on behalf of investors who purchased the common
stock of Digital Domain Media Group, Inc. (OTCBB:DDMGQ) in the Company's
initial public offering on November 18, 2011. The class action also includes
those investors who bought DDMG stock anytime from November 18, 2011 through
September 6, 2012.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY
CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
If you purchased DDMG stock between November 18, 2011 and September 6, 2012,
you may join the DDMG class action by visiting the firm's website at
http://rosenlegal.com; you may call Phillip Kim, Esq., toll-free, at
866-767-3653 or email firstname.lastname@example.org for information on the class action.
The Complaint alleges that, in violation of the federal securities laws,
defendants made material misstatements of fact about the Company's financial
condition in the IPO documents. Namely, Defendants (a) did not accurately
describe the Company's "burn rate" of cash and its ability to continue as a
going concern; (b) failed to disclose that at the time of the IPO, DDMG CEO
Textor had entered into an undisclosed loan agreement for $10 million which
was secured by DDMG shares; and (c) failed to disclose that certain members of
DDMG's senior management had previously served as senior management of another
company that went bankrupt in 2008. The Complaint alleges that these
undisclosed facts materialized in the form of DDMG's bankruptcy filing on
September 11, 2012, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than
November 19, 2012. A lead plaintiff is a representative party acting on behalf
of other absent class members in directing the litigation. If you wish to join
the litigation, or to discuss your rights or interests regarding this class
action, please contact Jonathan Horne, Esq. or Phillip Kim, Esq. of The Rosen
Law Firm, toll-free, at 866-767-3653, or via e-mail at email@example.com
or firstname.lastname@example.org. You may also visit the firm's website at
The Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
Prior results do not guarantee a similar outcome.
CONTACT: Phillip Kim, Esq.
Jonathan Horne, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue, 34th Floor
New York, New York 10118
Tel: (212) 686-1060
Weekends Tel: (917) 562-8616
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
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