SOURCE: Levi & Korsinsky, LLP
NEW YORK, NY--(Marketwire - Jul 23, 2012) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Ignite Restaurant Group, Inc. ("Ignite" or the "Company") (NASDAQ: IRG) stock pursuant or traceable to the Company's May 10, 2012 Initial Public Offering or between May 10, 2012 and July 18, 2012.
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The Complaint alleges that Ignite's Initial Public Offering documents contained false financial statements because the Company improperly accounted for leases. On July 18, 2012, Ignite announced that an internal assessment of its lease accounting policies has led to the determination that its financial statements for the years 2009 and 2011, and for the first quarter of 2012, must be restated. The Company also announced that it will commence a more detailed review of its historical accounting. Following this news, shares of Ignite stock fell more than 20 percent.
If you suffered a loss in Ignite you have until September 18, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/ignite-restaurant-group/.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.