Securities Class Action Lawsuit Filed Against Ignite Restaurant Group; Shareholders With Large Losses Encouraged to Contact Holzer Holzer & Fistel, LLC Before September 18th Lead Plaintiff Deadline
ATLANTA, GA--(Marketwire -08/27/12)- A class action lawsuit has been filed on behalf of investors who purchased shares of Ignite Restaurant Group, Inc ("Ignite" or the "Company") (IRG) in connection with its May 10, 2012 initial public offering ("IPO"). The lawsuit, which was filed in the United States District Court for the Southern District of Texas, alleges Ignite issued statements in its IPO documents that were materially false and misleading at the time they were made. Specifically, the suit alleges that Ignite improperly accounted for certain leases. On July 18, 2012, Ignite announced that it was correcting non-cash related errors in connection with those leases following an internal accounting review.
If you purchased Ignite common stock between May 10, 2012 and July 18, 2012, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than September 18, 2012. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Investors who are interested in serving as lead plaintiff or who have questions concerning their legal rights may contact Michael I. Fistel, Jr., Esq. (mfistel@holzerlaw.com) or Marshall P. Dees, Esq. (mdees@holzerlaw.com) by email or via toll-free telephone at (888) 508-6832.
While Holzer Holzer & Fistel, LLC has not yet filed a complaint in this matter, the firm dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
