Update in Lawsuit for Investors in Liquidity Services, Inc. (NASDAQ:LQDT) shares announced by Shareholders Foundation

SAN DIEGO, June 14, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending in the District Court for the District of Columbia on behalf of certain purchasers of shares of Liquidity Services, Inc. (NASDAQ: LQDT) over alleged Securities Laws Violations by Liquidity Services, Inc. 

Investors who purchased shares of Liquidity Services, Inc. (NASDAQ: LQDT) prior to February 2012 and continue to hold any of those NASDAQ:LQDT shares have also certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554. 

In July 2014 a lawsuit was filed against Liquidity Services, Inc over alleged securities laws violations. The plaintiff claimed that Liquidity Services, Inc. allegedly falsely represented the financial condition of the Company in issuing false and misleading statements concerning the Company's current and future profitability, its growth initiatives including the integration and performance of its acquisitions, the seriousness of the competition in the industry, and the adverse effects of its declining Department of Defense business and the offsetting gains in its commercial and local and state government segments. Furthermore, the plaintiff alleged that defendants wrongfully portrayed Liquidity Services, Inc. as a profitable, growing company with substantial potential for further growth, and falsely reassured investors that any struggles by Liquidity Services, Inc. were merely temporary side effects to its lucrative growth initiative and that these material misrepresentations and omissions artificially inflated Liquidity Services, Inc.’s stock and allowed certain Company insiders to receive a windfall from selling Liquidity Services, Inc.’s stock at inflated prices. 

In December 2014 an amended complaint was filed and in March 2015 the defendants filed their motion to dismiss the case. In March 2016 the court granted in part and denied in part defendants' motion to dismiss. 

Those who purchased shares of Liquidity Services, Inc. (NASDAQ: LQDT) prior to February 2012 and continue to hold any of those NASDAQ:LQDT shares have also certain options and should contact the Shareholders Foundation, Inc. by e-mail at [email protected] or call +1 (858) 779-1554. 

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

Source: Shareholders Foundation, Inc.

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