SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

July 23, 2015 14:39 ET

SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in IDI, Inc. to Contact the Firm

NEW YORK, NY--(Marketwired - July 23, 2015) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in IDI, Inc. ("IDI" or the "Company") (NYSE: IDI) of the September 21, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the United States District Court for the Southern District of Florida on behalf of a class consisting of all persons or entities who purchased IDI securities between April 30, 2015 and July 21, 2015 (the "Class Period").

The complaint alleges that, according to a report published by Seeking Alpha on July 21, 2015, IDI failed to disclose that Chairman Michael Brauser was named as a defendant in multiple civil fraud lawsuits as well as in wipeout and bankruptcy proceedings. The complaint also accuses the Company of utilizing a Yahoo message board stock-pumping scheme in order to inflate its share price.

On this news, Company share price fell $5.26 per share, a 46% drop during intraday trading, to close at $6.16 per share on July 21, 2015.

Request more information now by clicking here: www.faruqilaw.com/IDI. There is no cost or obligation to you.

Take Action

If you invested in IDI stock or options between April 30, 2015 and July 21, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/IDI. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding IDI's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    Email contact
    Telephone: (877) 247-4292 or (212) 983-9330