SOURCE: Izard Nobel LLP

October 13, 2009 13:34 ET

Izard Nobel LLP Announces Class Action Lawsuit Against RHI Entertainment, Inc.

WEST HARTFORD, CT--(Marketwire - October 13, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased 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.

The complaint charges RHI Entertainment and certain of its executives violated federal securities laws. It is alleged that, throughout the Class Period, defendants made positive statements regarding the Company's financial condition, business and prospects. Specifically, the description of the Company's business in the Form S-1/A Registration Statement (the "Registration Statement") filed in connection with the IPO, on or about June 19, 2008, created 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. The complaint further alleges that these statements were materially false and misleading because defendants failed to disclose that, given the declining state of the credit markets and other negative factors then impacting the Company's business, RHI Entertainment would not be able to complete 40 MFT movies and miniseries in 2008.

If you are a member of the class, you may, no later than December 8, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/rhientertainment/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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