Glancy
Binkow & Goldberg LLP, representing investors of GrowLife,
Inc. (“GrowLife” or the “Company”) (OTCBB:PHOT), has filed a class
action lawsuit in the United States District Court for the Central
District of California on behalf of a class (the “Class”) comprising all
purchasers of GrowLife securities between November 14, 2013 and April 9,
2014, inclusive (the “Class Period”).
Please contact Glancy Binkow & Goldberg LLP, toll-free at 888-773-9224
or at 212-682-5340, or by email to shareholders@glancylaw.com
to discuss this matter.
GrowLife manufactures and supplies plant growing systems, branded
equipment and expendables for urban gardening, primarily for cultivation
of medical marijuana, in the United States. The Complaint alleges that
throughout the Class Period defendants issued false and misleading
statements or failed to disclose that: (1) the Company had provided
inaccurate and/or inadequate information about its stock and engaged in
potentially manipulative transactions; (2) the Company lacked adequate
internal and financial controls; and (3) as a result, the Company’s
financial statements were materially false and misleading at all
relevant times.
On April 10, 2014, the Securities and Exchange Commission announced that
it is temporarily suspending trading of GrowLife securities. According
to a statement issued by the SEC, trading of the Company’s securities
has been suspended until April 29, 2014, “because of questions that have
been raised about the accuracy and adequacy of information in the
marketplace and potentially manipulative transactions in [the Company’s]
common stock.”
If you are a member of the Class described above, you may move the Court
no later than June 17, 2014, to serve as lead plaintiff, if you meet
certain legal requirements. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish to
learn more about this action, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at
888-773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at 212-682-5340, by e-mail
to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2014