SOURCE: Shalov Stone Bonner & Rocco LLP

Shalov Stone Bonner & Rocco LLP

October 12, 2009 17:03 ET

Shalov Stone Bonner & Rocco LLP Announces Class Action Against RHI Entertainment, Inc.

NEW YORK, NY--(Marketwire - October 12, 2009) - Shalov Stone Bonner & Rocco LLP announces that a class action lawsuit has been filed on behalf of all persons who purchased the common stock of RHI Entertainment, Inc. ("RHI" 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 lawsuit is pending in the United States District Court for the Southern District of New York against RHI, Robert A. Halmi, RHI's Chief Executive Officer and Chairman of the Board of RHI, and William J. Aliber, RHI's Chief Financial Officer.

According to the complaint, defendants made false and misleading statements concerning RHI's financial condition, business and prospects. On June 13, 2008, the Company filed its Form S-1/A Registration Statement (the "Registration Statement") for the IPO with the Securities and Exchange Commission (the "SEC"). The complaint alleges that defendants negligently prepared the Registration Statement, which consequently contained false and misleading statements of material facts and which failed to include material adverse facts. Specifically, according to the complaint, the Registration Statement stated that RHI expected to develop, produce and distribute 40 MFT movies and mini-series, when in actuality, because of the declining state of the credit markets, as well as other negative factors impacting RHI's business, RHI would not be able to complete the 40 MFT movies and mini-series in 2008. According to the SEC's rules and regulations, the Registration Statement should have disclosed that RHI would not be able to complete the 40 MFT movies and mini-series in 2008.

Shalov Stone Bonner & Rocco LLP has extensive experience in the prosecution of lawsuits on behalf of investors. For more information about the firm, please visit its website at: www.lawssb.com

If you purchased RHI common stock and would like additional information about your rights, please contact investor rights attorney Amanda C. Scuder, at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; email: ascuder@lawssb.com).

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