SOURCE: Rosen Law Firm P.A.

Rosen Law Firm P.A.

April 15, 2011 20:30 ET

The Rosen Law Firm Representing Investors Files Securities Class Action Charging Artificial Life With Securities Fraud -- ALIF

NEW YORK, NY--(Marketwire - Apr 15, 2011) - The Rosen Law Firm, P.A. announces that it has filed a class action lawsuit on behalf of investors who purchased the securities of Artificial Life, Inc. (OTCBB: ALIF) during the period from May 5, 2010 to April 6, 2011 and is seeking to recover investors' damages from violations of federal securities laws.

To join the Artificial Life class action, visit the Rosen Law Firm's website at http://www.rosenlegal.com, or call Jonathan Horne, Esq., toll-free, at 866-767-3653; you may also email jhorne@rosenlegal.com for information on the class action. The case is pending in the United States District Court for the Central District of California.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.

On April 13, 2010, the Company engaged KPMG to be its accountant. When conducting the audit for FY 2010, KPMG disagreed with the Company over the Company's accounting treatment of reserves for account receivables and revenue recognition, preventing KPMG from issuing an unqualified opinion. The Company refused to alter the accounting treatment of these entries, and dismissed KPMG on April 6, 2011. On April 7, 2011, the Company's stock price fell over 25%, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than June 14, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Jonathan Horne, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at jhorne@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Contact Information

  • Contact Information:

    Jonathan Horne, Esq.
    The Rosen Law Firm P.A.
    275 Madison Avenue 34th Floor
    New York, New York 10016
    Tel: (212) 686-1060
    Weekends Tel: (917) 797-4425
    Toll Free: 1-866-767-3653
    Fax: (212) 202-3827
    Email Contact
    www.rosenlegal.com