NEW YORK, July 01, 2015 (GLOBE NEWSWIRE) -- Stull, Stull & Brody ("SS&B") announces that a class action lawsuit was commenced in the United States District Court for the Southern District of Texas on behalf of persons who purchased or acquired the shares of Uranium Energy Corp. ("UEC") (NYSE MKT:UEC) shares between October 14, 2014 and June 17, 2015, inclusive (the "Class Period").
If you purchased UEC securities during the Class Period you may move the Court to serve as lead plaintiff in the action by no later than August 28, 2015. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.
The complaint alleges that defendants violated securities laws because (1) UEC used paid stock promoters to artificially inflate its stock prices and (2) UEC's public statements were materially false and misleading at all relevant times because of undisclosed paid stock promoters. The complaint also alleges that UEC's stock fell over 30%, on unusually high trading volume, in two days after the truth emerged.
SS&B is also investigating whether allegations in the class action were also breaches of fiduciary duties by the officers and directors of UEC. SS&B 's investigation relates to allegations in news reports that UEC has used undisclosed, paid stock promoters to increase the value of its shares, which SS&B believes may have been a waste of corporate assets that also exposed UEC to potential liability.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Michael J. Klein, Esq. at Stull, Stull & Brody by e-mail at UEC@ssbny.com, by calling toll-free 1-800-337-4983 x147, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody has offices in New York and Beverly Hills. The Stull, Stull & Brody website (www.ssbny.com) has additional information about the firm.
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