NEW YORK, NY / ACCESSWIRE / November 4, 2015 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased shares of SFX Entertainment, Inc. ("SFX" or the "Company") (NasdaqGS: SFXE), during the period between February 25, 2015 and August 17, 2015 inclusive. (the "Class Period").
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, in connection with a proposed acquisition of SFX by Robert F.X. Sillerman ("Sillerman"), SFX's Chief Executive Officer and largest shareholder. Specifically, plaintiff alleges that: (1) while Sillerman repeatedly affirmed his commitment to acquire SFX, he failed to disclose that he did not have any financing in place at the time he made his proposal and could not obtain the financing to consummate the transaction; and (2) The Company's growing debt and decreasing margins, it was not feasible that Sillerman was ever going to buy the Company. Rather, Sillerman initiated and maintained a sham process designed to lure third party buyout offers for SFX, all in an attempt to shed his personal SFX investment before the truth about the deterioration of the Company's finances could no longer be concealed.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in SFX you have until November 20, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
