SAN FRANCISCO--(BUSINESS WIRE)--
The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that
class action litigation has been brought on behalf of those who
purchased the common stock of Biozoom, Inc. (“Biozoom” or the “Company”)
(OTCBB:BIZM) from market maker KCG Americas LLC (“KCG”) on the
Over-the-Counter Bulletin Board (“OTCBB”) between May 16, 2013 and June
25, 2013, inclusive (the “Class Period”).
If you purchased Biozoom common stock from KCG on the OTCBB during the
Class Period, you may move the Court for appointment as lead plaintiff
by no later than July 21, 2014. A lead plaintiff is a representative
party who acts on behalf of other class members in directing the
litigation. Your share of any recovery in the action will not be
affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as your
counsel in the action.
investors who wish to learn more about the action and how to seek
appointment as lead plaintiff should click here or contact Sharon M.
Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Background on the Biozoom Securities Class
The action charges KCG with violations of the Securities Act of 1933.
Biozoom was previously known as Entertainment Art, Inc. (“Entertainment
The action alleges that, according to an ongoing action by the
Securities and Exchange Commission (“SEC”), between January 2013 and
June 2013, certain Argentinean nationals opened U.S. brokerage accounts
and deposited millions of shares of unregistered Entertainment Art stock
into those accounts. On March 12, 2013, Entertainment Art announced a
substantial change in business operations from the development of
fashionable leather bags to involvement in the biomedical industry.
On April 1, 2013, Entertainment Art changed its name to Biozoom and
listed itself on the OTCBB. Beginning on May 23, 2013, Biozoom began
issuing a series of press releases claiming it had created the world’s
first portable, handheld consumer device to instantly measure certain
“biomarkers,” including anti-oxidant levels, vitamin absorption, and
stress levels. After these press releases and certain stock promoters’
reiteration of their claims, Biozoom’s stock price and trading volume
According to the complaint, between May 16, 2013 and June 19, 2013, the
Argentinean nationals sold millions of unregistered shares of Biozoom
for large profits, however, no registration statement was filed with the
SEC in connection with the sales and the sales did not qualify for any
exception from registration. Plaintiff and other class members purchased
their unregistered shares of Biozoom on the OTCBB from defendant KCG. On
June 25, 2013, the SEC issued a ten day trading suspension in Biozoom
stock. When Biozoom stock resumed trading on July 10, 2013, it fell
$3.01 per share, or over 87%, from its closing price on June 24, 2013
(before the trading halt), to close at $0.44, on heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco,
New York, and Nashville, is a nationally recognized law firm committed
to advancing the rights of investors and promoting corporate
TheNational Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for eleven years. In compiling
the list, the National Law Journal examines recent verdicts and
settlements and looked for firms “representing the best qualities of the
plaintiffs’ bar and that demonstrated unusual dedication and
creativity.” Best Lawyers and U.S. News have also named
Lieff Cabraser as a “Law Firm of the Year” each year the publications
have given this award to law firms.
For more information about Lieff Cabraser and the firm’s representation
of investors, please visit http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Lieff Cabraser Heimann & Bernstein, LLP
Sharon M. Lee,
Source: Lieff Cabraser Heimann & Bernstein, LLP