SOURCE: Brower Piven, A Professional Corporation

October 14, 2009 17:36 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in RHI Entertainment, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the December 8, 2009 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - October 14, 2009) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of RHI Entertainment, Inc. ("RHI Entertainment" or the "Company") (NASDAQ: RHIE) pursuant and or traceable to the Company's initial public offering (the "IPO" or the "Offering") on or about June 19, 2008.

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than December 8, 2009 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. You may contact Brower Piven (through hoffman@browerpiven.com or 410/986-0036) to answer any questions you may have in that regard.

The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the registration statement and prospectus for the Company's initial public offering ("IPO") on or about June 19, 2008 creating the materially misleading impression that, at the time of the IPO, the Company had orders for 40 MFT movies and mini-series which had been paid for, were in production and would be delivered in the later half of the year when, in truth, given the declining state of the credit markets and other negative factors then impacting the Company's business, the Company would not be able to complete 40 MFT movies and miniseries in 2008. As a consequence of the foregoing, investors who are members of the proposed class suffered losses from their investment in RHI Entertainment common stock.

If you have suffered a net loss for all transactions in RHI Entertainment, Inc. common stock pursuant and/or traceable to the IPO on or about June 19, 2008, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    410/986-0036
    Email Contact