An investigation for investors in NASDAQ:RITT shares over potential securities laws violations by RiT Technologies Ltd. was announced and NASDAQ:RITT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/05/2016 -- An investigation on behalf of investors of RiT Technologies Ltd. was announced over potential securities laws violations by RiT Technologies Ltd. in connection certain financial statements.
Investors who purchased shares of RiT Technologies Ltd. (NASDAQ:RITT), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by RiT Technologies Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On February 11, 2016, RiT Technologies Ltd. announced that its major Russian distributor was experiencing collection problems from customers in the Russian region "thereby adversely impacting RiT's current cash flow."
On April 20, 2016, RiT Technologies Ltd. announced that the collection progress of its Russian distributor's overdue debts was progressing significantly lower than planned, and that the Chief Financial Officer of RiT Technologies resigned.
On June 28, 2016, RiT Technologies Ltd. announced that its request for continued listed on the NASDAQ Capital Market was denied, that trading of its securities will be suspended by NASDAQ on July 1, 2016 and thereafter be removed from listing on the NASDAQ.
On July 1, 2016, shares of RiT Technologies Ltd closed at $0.12 per share.
Those who purchased shares of RiT Technologies Ltd. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com