Sarraf Gentile LLP Files Class Action Against InfoSonics Corp.
19 June 2006 The law firm of Sarraf Gentile LLPhas filed a class action on behalf of purchasers of thesecurities of InfoSonics Corp. (AMEX: IFO) during the period May8, 2006, to June 12, 2006. The lawsuit is pending in the UnitedStates District Court for the Southern District of California andnames as defendants the company and certain of its seniorexecutives. Additional information about the lawsuit isavailable at www.ifoclassaction.com. According to the complaint, the defendants issued severalstatements during the relevant period which were false andmisleading. Specifically, the complaint alleges that the companysubmitted a quarterly filing to the SEC and made statements tothe general public regarding its financial condition that werefalse and misleading when made. In particular, it is alleged,that the company improperly classified its previously issuedwarrants as derivative liability rather than equity, therebyartificially inflating its net income by about 33%. If you are a member of the class described above, you may, notlater than August 14, 2006, move the Court to serve as leadplaintiff of the class. In order to serve as lead plaintiff,however, you must meet certain legal requirements, as set forthin the Private Securities Litigation Reform Act of 1995. Plaintiffs are represented by the law firm of Sarraf Gentile LLPand Shalov Stone & Bonner LLP, which have extensive experience inthe prosecution of class actions on behalf of investors. If youwould like to participate in this action or would like additionalinformation about the lawsuit, please contact Joseph Gentile atSarraf Gentile LLP, 485 Seventh Avenue, Suite 1005, New York, NewYork 10018 (telephone: 212-868-3610; e-mail:joseph@sarrafgentile.com). Investors are also encouraged tovisit www.ifoclassaction.com to find out more information aboutthis suit. Contact: Joseph GentileEmail ContactSARRAF GENTILE LLP485 Seventh Avenue, Suite 1005New York, NY 10018T 212.868.3610F 212.918.7967www.sarrafgentile.com SOURCE: Sarraf Gentile LLP
Source: marketwire
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