Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Bidz.com to Inquire About the Lead Plaintiff Position in the Securities Class Action Lawsuit and Informs Shareholders That Only 7 Days Remain Until the Deadline to Move for Appointment as Lead Plaintiff
2009-06-29 22:42:04 -
BALTIMORE, MD -- (Marketwire) -- 06/29/09 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Bidz.com ("Bidz.com" or the "Company") (NASDAQ: BIDZ) during the period between August 13, 2007 and November 27, 2007, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than July 6, 2009 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through hoffman@browerpiven.com : mailto:hoffman@browerpiven.com or 410/986-0036) to answer any questions you may have in that regard.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that the Company engaged improper business tactics in order to artificially raise the auction price of its products. According to the complaint, when details of these improprieties were revealed beginning on November 26, 2007, the value of Bidz.com's stock declined significantly.
If you have suffered a net loss for all transactions in Bidz.com common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com : www.browerpiven.com , by email at hoffman@browerpiven.com : mailto:hoffman@browerpiven.com , by calling 410-986-0036, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Baltimore, Maryland
410/986-0036
Email Contact : www2.marketwire.com/mw/emailprcntct?id=202257DD3FB1D7A7
