Cleveland, OH (PRWEB) May 23, 2014
PEIFFER ROSCA ABDULLAH CARR & KANE LLC has filed a class action lawsuit in the United States District Court for the Northern District of Ohio on behalf of persons or entities who purchased the common stock of Biozoom, Inc. from market maker KCG Americas, LLC between May 16, 2013 and June 25, 2013, inclusive (the “Class”).
Please contact Peiffer Rosca Abdullah Carr & Kane LLC (“Peiffer Rosca Law Firm”) at 888-998-0520 or by email at arosca(at)praclawfirm(dot)com to discuss this matter.
Biozoom was previously known as Entertainment Art, Inc. According to an ongoing action by the SEC, between January 2013 through June 2013, certain Argentinean nationals opened brokerage accounts at two U.S. brokerage firms and deposited millions of shares of unregistered Entertainment Arts stock into those accounts. On March 12, 2013, Entertainment Art announced a dramatic change in business operations from a company that developed fashionable leather bags to a company that was involved in the biomedical industry. On April 1, 2013, Entertainment Art changed its name to Biozoom, all according to the complaint filed in the case.
Beginning on May 23, 2013, Biozoom began issuing a series of press releases claiming it created the world’s first portable, handheld consumer device to instantly measure certain “biomarkers” such as anti-oxidant levels, vitamin absorption and stress levels. Those claims were also made by certain stock promoters. Following the press releases and stock promotion Biozoom’s stock price and volume rose dramatically. Between May 16, 2013 and June 19, 2013, the Argentinean nationals allegedly sold millions of unregistered shares of Biozoom for large profits. On June 25, 2013, the SEC issued a ten day trading suspension in Biozoom stock. Thereafter, the price of Biozoom shares fell dramatically. Plaintiff and the Class purchased their shares of Biozoom on the OTCBB from defendant KCG Americas. They asserted claims under Section 12(a)(1) of the Securities Act of 1933 against the defendant in connection with the sales of the Biozoom shares, all according to the complaint filed in the case.
If you are a member of the Class described above, you may move the Court no later than 60 days from date of this notice to serve as lead plaintiff in the class action lawsuit. If you wish to learn more about this action, or have any questions about this announcement or your rights or interests with respect to this matter, please contact Alan Rosca or Joe Peiffer at the Peiffer Rosca Law Firm, at 888-998-0520 or arosca(at)praclawfirm(dot)com.
Biozoom class action: Corso v. KCG Americas LLC, 1:14-cv-01087, (N.D. Ohio May, 2014).
SEC Case: SEC v. Magdalena Tavella, et al., Civ. Action No. 13-CV-4609 (S.D.N.Y.).
About Peiffer Rosca Abdullah Carr & Kane LLC
Peiffer Rosca Abdullah Carr & Kane LLC prosecutes securities fraud and represents investors in securities litigation and FINRA arbitrations throughout the U.S. To learn more about the Peiffer Rosca Law Firm, please visit our website at http://www.securitieslitigators.com.