RITT INVESTOR ALERT: The Law Offices of Vincent Wong Notifies Investors of a Class Action Lawsuit Involving RiT Technologies Ltd. and a Lead Plaintiff Deadline of September 26, 2016

Montag, 19.09.2016 19:55 von

PR Newswire

NEW YORK, Sept. 19, 2016 /PRNewswire/ -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of New Jersey on behalf of investors who purchased RiT Technologies Ltd. (OTC MKTS: RITT) securities between March 3, 2015 and July 1, 2016.

The Law Offices of Vincent Wong logo

Click here to learn about the case: http://www.wongesq.com/pslra/rit-technologies-ltd. There is no cost or obligation to you.

According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) RiT CIS Ltd. was RiT Technologies' major distributor in Russia and the Commonwealth of Independent States region; (2) RiT CIS was vital to the viability of RiT Technologies; and (3) as a result, RiT Technologies' public statements were materially false and misleading at all relevant times.

On February 11, 2016, RiT revealed that RiT CIS was "its major distributor in Russia and the CIS region" and was delaying payments to the Company, thus adversely impacting RiT's current cash flow. Then on April 20, 2016, the Company announced that the collection progress for overdue debts was significantly lower than planned, and that the CFO of RiT Technologies had resigned effective immediately. Then on June 3, 2016, the Company announced the resignation of its President and CEO.

If you suffered a loss in RiT Technologies you have until September 26, 2016 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. To obtain additional information, contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra/rit-technologies-ltd.

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.  Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:   
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

Logo - http://photos.prnewswire.com/prnh/20140904/143045

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ritt-investor-alert-the-law-offices-of-vincent-wong-notifies-investors-of-a-class-action-lawsuit-involving-rit-technologies-ltd-and-a-lead-plaintiff-deadline-of-september-26-2016-300330254.html

SOURCE The Law Offices of Vincent Wong