This action is for investors of Bidz.com, Inc. (NASDAQ: BIDZ) who acquired their shares between August 13, 2007 and November 26, 2007.
The complaint alleges that during the Class Period, the Company issued a series of false and misleading statements intended to project the picture of a financially sound and well-operating company, when, in fact, the company was operating with material deficiencies and undisclosed substantial problems that went to the heart of its business model.
On November 26, 2007, a Citron Research article identified numerous "red flags" and revealed previously undisclosed material problems with the Company. Two days later Citron issued a second article that provided additional details, revealing, among other things, that the Company engaged improper business tactics in order to artificially raise the auction price of its products. On this news, the Company's stock price dropped from a closing price of $19.94 on Friday, November 23, 2007, to a low of $10.10 on November 28, a loss of nearly 50%.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired common stock in Bidz.com, Inc. (NASDAQ: BIDZ) between August 13, 2007 and November 26, 2007 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Case Summary
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
Terms:
correct statements.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.
