SOURCE: Kahn Swick & Foti, LLC

July 10, 2015 22:00 ET

AIRMEDIA SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against AirMedia Group, Inc. - AMCN

NEW ORLEANS, LA--(Marketwired - Jul 10, 2015) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 24, 2015 to file lead plaintiff applications in a securities class action lawsuit against AirMedia Group, Inc. (NASDAQ: AMCN) if they purchased the Company's American Depositary Receipts ("ADRs") between April 15, 2015 and June 15, 2015, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased ADRs of AirMedia and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 24, 2015.

About the Lawsuit

AirMedia and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On June 15, 2015, AirMedia issued a press release announcing that it had entered into a definitive agreement to sell a 75% equity interest in its advertising subsidiary, AirMedia Group Co., Ltd. to Beijing Longde Wenchuang Fund Management Co., Ltd. for $344.4 million, which was significantly less than the purported value that AirMedia had claimed the subsidiary was worth during the Class Period.

On this news, the price of AirMedia's ADRs plummeted.

About Kahn Swick & Foti, LLC

To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:

    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447