NEW ORLEANS — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 19, 2017 to file lead plaintiff applications in a securities class action lawsuit against Celadon Group Inc. (NYSE:CGI), if they purchased the Company’s shares between December 30, 2016 and April 18, 2017, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Celadon and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 19, 2017.
About the Lawsuit
Celadon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include that: (i) Celadon’s equity contribution to its joint venture with Element Financial Corp. was $68.2 million, not the $100 million Celadon reported in public filings; and (ii) Celadon is being investigated by the SEC.
On April 5, 2017, Prescience Point Research Group reported that Celadon “has used off-balance sheet entities…and manipulative accounting practices to hide its insolvent condition from investors and creditors.” Then, on April 19, 2017, Prescience reported that it received correspondence from the SEC indicating that Celadon was under investigation.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner [email protected] 1-877-515-1850 206 Covington St. Madisonville, LA 70447