Jensen Shawa Solomon Duguid Hawkes LLP and Siskinds LLP Announce
Filing of a Proposed Class Action Against Poseidon Concepts Corp.
(TSX:PSN) in the Alberta Court of Queen's Bench
CALGARY, ALBERTA and TORONTO, ONTARIO -- (Marketwire) -- 01/23/13 --
The Calgary-based law firm of Jensen Shawa Solomon Duguid Hawkes LLP
and the Ontario-based law firm of Siskinds LLP today announced the
filing in the Alberta Court of Queen's Bench of a proposed class
action against Poseidon Concepts Corp. (TSX:PSN), and certain of the
company's officers and directors.
The proposed class includes persons who acquired securities of
Poseidon Concepts on or prior to December 27, 2012, whether in a
prospectus offering or in the secondary market.
The action alleges, among other things, that the defendants made
statements that were materially false and misleading regarding
Poseidon Concepts' financial position, financial performance and cash
flows, overstated the company's incomes and reported inflated assets.
Among other relief, the action claims $251 million in damages.
If you acquired common shares of Poseidon Concepts pursuant to the
prospectus offering in late-January/early-February 2012, offering
shares at $13.00, please contact Siskinds LLP (toll free) at (800)
461-6166 (ext. 2380) or by email at email@example.com.
Persons who acquired securities of Poseidon Concepts on or prior to
December 27, 2012 are encouraged to complete the online information
form at: (online information form).
On November 27, 2012, Siskinds LLP announced the filing of a proposed
class action arising out of similar facts and allegations in the
Ontario Superior Court of Justice. On December 3, 2012, a similar
action was commenced in the Quebec Superior Court in Montreal by
Jensen Shawa Solomon Duguid Hawkes LLP
Robert Hawkes, Q.C.
Toll free: (800) 461-6166 (ext. 2380)
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