Law Offices of Howard G. Smith announces that all persons or entities who purchased the common stock of FriendFinder Networks, Inc. ("FFN" or the "Company") (NASDAQ:FFN) pursuant and/or traceable to the Company's Registration and Prospectus issued in connection with the Company's May 11, 2011 initial public offering (the "IPO" or the "Offering"), have until January 16, 2012 to move the Court to serve as Lead Plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Southern District of Florida.
According to the Company's Registration Statement and Prospectus, there would be approximately 26.7 million common shares outstanding after the May Offering, including at least 20.9 million shares subject to a 180-day lock-up period, during which the shares could not be traded (the "Restricted Shares"). The Complaint alleges that these statements were false and misleading when made because a material number of the Restricted Shares were publicly traded during the lock-up period. Furthermore, the Complaint alleges that the Company was suffering from deficient internal controls and was, therefore, unable to abide by the terms of the Registration Statement and Prospectus.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased FFN securities pursuant or traceable to the Company's May 11, 2011 IPO, you have certain rights, and have until January 16, 2012, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 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.
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215)
638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
