Shalov Stone Bonner & Rocco LLP Announces Class Action Against RHI Entertainment, Inc.
October 12 2009 - 5:03PM
Marketwired
Shalov Stone Bonner & Rocco LLP announces that a class action
lawsuit has been filed on behalf of all persons who purchased the
common stock of RHI Entertainment, Inc. ("RHI" or the "Company")
(NASDAQ: RHIE) pursuant and/or traceable to the Company's initial
public offering (the "IPO" or the "Offering") on or about June 19,
2008. The lawsuit is pending in the United States District Court
for the Southern District of New York against RHI, Robert A. Halmi,
RHI's Chief Executive Officer and Chairman of the Board of RHI, and
William J. Aliber, RHI's Chief Financial Officer.
According to the complaint, defendants made false and misleading
statements concerning RHI's financial condition, business and
prospects. On June 13, 2008, the Company filed its Form S-1/A
Registration Statement (the "Registration Statement") for the IPO
with the Securities and Exchange Commission (the "SEC"). The
complaint alleges that defendants negligently prepared the
Registration Statement, which consequently contained false and
misleading statements of material facts and which failed to include
material adverse facts. Specifically, according to the complaint,
the Registration Statement stated that RHI expected to develop,
produce and distribute 40 MFT movies and mini-series, when in
actuality, because of the declining state of the credit markets, as
well as other negative factors impacting RHI's business, RHI would
not be able to complete the 40 MFT movies and mini-series in 2008.
According to the SEC's rules and regulations, the Registration
Statement should have disclosed that RHI would not be able to
complete the 40 MFT movies and mini-series in 2008.
Shalov Stone Bonner & Rocco LLP has extensive experience in
the prosecution of lawsuits on behalf of investors. For more
information about the firm, please visit its website at:
www.lawssb.com
If you purchased RHI common stock and would like additional
information about your rights, please contact investor rights
attorney Amanda C. Scuder, at Shalov Stone Bonner & Rocco LLP,
485 Seventh Avenue, Suite 1000, New York, New York 10018
(telephone: (212) 239-4340; email: ascuder@lawssb.com).
Attorney advertising. Prior results do not guarantee a similar
outcome.
CONTACT: Amanda C. Scuder - Attorney SHALOV STONE BONNER &
ROCCO LLP Telephone: (212) 239-4340 Facsimile: (212) 239-4310
Email: Email Contact http://www.lawssb.com
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