Law
Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the Central District
of California on behalf of all purchasers of the securities of GrowLife,
Inc. (“GrowLife” or the “Company”) (OTC BB:PHOT) between November 14,
2013 and April 9, 2014, inclusive (the “Class Period”).
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 a
temporary suspension of trading of GrowLife securities. According to a
statement issued by the SEC, trading was temporarily suspended “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 have until June
17, 2014, to move the Court 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, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free
at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Copyright Business Wire 2014