The Rosen Law Firm Inquiring Into False and Misleading Statements
The New York-Based Law Firm, The Rosen Law Firm, has begun an inquiry regarding accusations that PCS Edventures.com!, Inc. is in violation of federal securities laws. The allegations state that the company issued false and/or misleading statements from March 28, 2007 regarding an agreement with PCS Middle East worth $7 million.
PCS Edventures released a statement on August 15, 2007, stating that there never was a contract or agreement. They added that there were no plans for an agreement in the near future, either. Just a couple weeks ago, on August 26, 2010, the SEC initiated action towards PCS Edventures, claiming that they fabricated the overall nature of the purported agreement.
The Rosen Law Firm is prepping a class action lawsuit which will represent investors who lost their investments from March 28, 2007 to August 15, 2007.
The Rosen Law Firm is a global firm with concentrations in securities class actions and shareholder derivative litigation.