SOURCE: Sarraf Gentile LLP

December 06, 2010 19:01 ET

Sarraf Gentile LLP Announces Class Action Filed Against Mecox Lane Limited

NEW YORK, NY--(Marketwire - December 6, 2010) - A class action lawsuit has been filed in the United States District Court for the Southern District of New York against Mecox Lane Limited (NASDAQ: MCOX). The action is brought on behalf of all people who purchased Mecox common stock pursuant to its October 2010 Initial Public Offering ("IPO").

The complaint alleges that Mecox, certain of its officers and directors, and others violated the Securities Act of 1933 by issuing inaccurate registration material in connection with the Company's IPO. The complaint alleges that contrary to the company's registration filings, the company's gross margins had been adversely impacted by increased costs and expenses which made it impossible for Mecox to achieve the results defendants projected at the time of the IPO. The complaint alleges that when the truth was revealed on November 29, 2010, the value of the Company's shares dropped damaging investors.

No class has yet been certified in the action. Until a class is certified, you are not represented by counsel unless you retain one. Sarraf Gentile LLP has not filed a lawsuit against the defendants. 

If you are a Mecox shareholder and want to discuss your legal rights, at no cost and without obligation, please contact Joseph Gentile at Sarraf Gentile LLP (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com). 

Sarraf Gentile LLP has extensive experience litigating shareholder actions across the United States and has recovered millions of dollars on behalf of injured shareholders. 

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Contact Information

  • Contact:

    Joseph Gentile, Esq.
    SARRAF GENTILE LLP
    116 John Street, Suite 2310
    New York, NY 10038
    T 212.868.3610
    F 212.918.7967
    www.sarrafgentile.com