Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Emerson Radio Corp.
19 Février 2014 - 10:16PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of Emerson
Radio Corp. (“Emerson” or the “Company”) (NYSE MKT:MSN) concerning
possible violations of federal securities laws. The investigation
focuses on certain statements issued by the Company concerning
Emerson’s business, operations and financial condition.
Emerson, together with its subsidiaries, designs, imports,
markets, sells and licenses housewares and consumer electronic
products under the Emerson and HH Scott brand names, in the United
States and internationally. On July 16, 2013, the Company filed
with the Securities and Exchange Commission an annual report on
Form 10-K for the Company’s fiscal year ended March 31, 2013.
According to the Form 10-K, on May 31, 2011, the High Court of
Hong Kong appointed Fok Hei Yu (also known as Vincent Fok), a
current director of Emerson, and Roderick John Sutton, both of FTI
Consulting (Hong Kong) Limited, as Joint and Several Provisional
Liquidators over The Grande Holdings Limited (“Grande”). Grande is
a Bermuda corporation and Emerson’s controlling shareholder, which
purportedly controls 15,243,283 shares – approximately 56% of the
Company’s outstanding common stock.
The investigation is related to certain statements in the Form
10-K, and whether the Form 10-K was materially misleading or failed
to disclose material information. Specifically, the investigation
concerns whether, as stated in the Form 10-K, the Provisional
Liquidators are “obligated” to liquidate the 15,243,283 shares
beneficially owned by Grande.
If you purchased Emerson shares, if you have information or
would like to learn more about these claims, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at
215-638-4847, Toll Free at 888-638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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