The law firm of Cohen, Milstein, Hausfeld & Toll, P.L.L.C. announced today that it has filed a class action complaint in the United States District Court for the Southern District of New York on behalf of purchasers of NexCen Brands, Inc. common stock ("NexCen" or the "Company") (Nasdaq:NEXC) from May 10, 2007 through May 19, 2008, inclusive (the "Class Period").
The complaint asserts claims against defendants NexCen, David S. Oros, Robert W. D'Loren and David B. Meister for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that the statements made during the Class Period by NexCen and its executives were materially false and misleading - specifically including, but not limited to, the omission of critical information regarding the existence of an accelerated-redemption feature in the loan the Company used to finance its acquisition of the Great American Cookie Company, which resulted in a lack of liquidity so extreme as to cause questions about the Company's ability to continue to operate. This information, along with other critical information regarding the financial state of the Company that had been undisclosed to the public during the Class Period, was released by the Company on May 19, 2008 and NexCen shares closed that day after a drop of 77.08% - from $1.95 to $0.58.
If you purchased NexCen shares during the period from May 10, 2007 through May 19, 2008, inclusive, you may, no later than July 28, 2008, move the court to be appointed as Lead Plaintiff. There are certain legal requirements to serve as Lead Plaintiff. Any member of the proposed class may move the court to serve as Lead Plaintiff through counsel of their choice or may choose to remain an absent class member. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as Lead Plaintiff.
Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, Chicago, San Francisco, and London, and is active in major litigation pending in federal and state courts throughout the nation, including the Southern District of New York.
The firm's reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total in the billions of dollars.
If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Steven J. Toll, Esq. |
S. Douglas Bunch, Esq. |
Cohen, Milstein, Hausfeld & Toll, P.L.L.C. |
1100 New York Avenue, N.W. |
West Tower, Suite 500 |
Washington, D.C. 20005 |
Telephone: (888) 240-0775 or (202) 408-4600 |
E-mail: stoll@cmht.com or dbunch@cmht.com |