NEW YORK, NY / ACCESSWIRE / June 24, 2015 / Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in Rubicon Technology, Inc. ("Rubicon" or the "Company") (NASDAQ: RBCN) of the June 29, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Rubicon, certain executives and directors and the underwriters of the Company’s public offering (the "Offering").
A complaint has been filed in the Northern District of Illinois on behalf of all persons who purchased Rubicon common stock in the Company’s Offering on or about March 19, 2014.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that the documents issued pursuant to the Offering did not disclose material trends, events and uncertainties, including the reversal of Rubicon’s trend of shrinking losses, high development costs and inventory write-offs.
On May 1, 2014, the Company published a press release and held a conference call discussing disappointing financial results and disclosing that its trend of shrinking losses had reversed in the first quarter of 2014.
Following this news, the price of Rubicon’s stock declined by $1.67 per share, or over 16%, to close at $8.51.
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Take Action
If you invested in Rubicon stock or options in the Company’s Offering on or about March 19, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/RBCN. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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FARUQI & FARUQI, LLP
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SOURCE: Faruqi & Faruqi, LLP
