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Lieff Cabraser Announces Class Action Litigation On Behalf Of Biozoom Shareholders - BIZM

June 11, 2014



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.

Biozoom 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 Litigation

The action charges KCG with violations of the Securities Act of 1933. Biozoom was previously known as Entertainment Art, Inc. (“Entertainment Art”).

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 increased significantly.

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 responsibility.

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, 1-800-541-7358


Source: Lieff Cabraser Heimann & Bernstein, LLP


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