Notice to Investors: The Rosen Law Firm Reminds Investors of Upcoming Deadline
in Securities Class Action Lawsuit -- Motion Date is January 15, 2008 -- IEAM
NEW YORK, Dec. 14, 2007 (PRIME NEWSWIRE) -- The Rosen Law Firm reminds current
and former shareholders of Industrial Enterprises of America, Inc. ("IEAM" or
the "Company") (Nasdaq:IEAM) (formerly (OTCBB:IEAM)) that they have until
January 15, 2008, to move for appointment as lead plaintiff.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED,
YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN
ABSENT CLASS MEMBER.
If you purchased IEAM stock during the period from November 14, 2006 through
November 8, 2007, and wish to join the IEAM securities litigation as a
plaintiff, or for further information, go to the website at
http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq.
toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com
for information on the class action.
You can join the class action online at http://www.rosenlegal.com .
The complaint charges that IEAM and certain of its present and former officers,
directors, and control persons violated Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 by issuing materially false and misleading
statements pertaining to IEAM's business prospects and condition, and filing
financial statements with the SEC materially false financial statements. On
November 7, 2007 the Company announced that investors could no longer rely on
its historical financial statements and that the Company had not properly
followed generally accepted accounting principles, necessitating a revision of
reported revenue, among other things. The Company also announced that it had
suspended its CFO pending a review. As a result of these events, the Complaint
asserts that the price of IEAM stock dropped, damaging investors.
The Rosen Law Firm has expertise in prosecuting investor securities litigation
and extensive experience in actions involving financial fraud. The Rosen Law
Firm represents investors throughout the nation, concentrating its practice in
securities class actions.
More information on this and other class actions can be found on the Class
Action Newsline at www.primenewswire.com/ca
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CONTACT: The Rosen Law Firm P.A.
Laurence Rosen, Esq.
lrosen@rosenlegal.com
Phillip Kim, Esq.
pkim@rosenlegal.com
(212) 686-1060
1-866-767-3653
Fax: (212) 202-3827
www.rosenlegal.com
