WILMINGTON, Del., July 2, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Southern District of Texas on behalf of all persons or entities that purchased the common stock of Uranium Energy Corp. ("Uranium Energy" or the "Company") (NYSE MKT: UEC) between October 14, 2014 and June 17, 2015, inclusive (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the "Complaint").
If you purchased shares of Uranium Energy during the Class Period, or purchased shares prior to the Class Period and still hold Uranium Energy, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to firstname.lastname@example.org; or at: http://rigrodskylong.com/investigations/uranium-energy-corp-uec.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) Uranium Energy stock achieved an unsustainable valuation by using paid stock promoters, yet failed to disclose the use of such promoters in its regulatory filings pursuant to Section 17(b) of the Securities Act of 1933; and (2) as a result of the foregoing, Uranium Energy's public statements were materially false and misleading at all relevant times. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on June 17, 2015, an article published by TheStreetSweeper.org reported that Uranium Energy was using undisclosed paid stock promoters to increase the value of Uranium Energy's shares. The article quoted a report by hotstocked.com detailing that Uranium Energy had caused at least eight separate stock promotions to be published, for which the Company, or third parties controlled by the Company, paid over $200,000. In its response, while denying the allegations and stating the article by TheStreetSweeper.org had no merit, the Company did not address the allegations related to the undisclosed paid stock promotions.
On this news, shares in Uranium Energy plummeted over 30% in the following days, closing at $1.80 per share on June 19, 2015, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than August 28, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Rigrodsky & Long, P.A.
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