Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $2.1 Million Settlement in the DS Healthcare Group Inc (NASDAQ:DSKX) Investor Lawsuit

Via: ReleaseWire

Updated 11:45 AM CDT, Fri, August 11,2017

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of DS Healthcare Group Inc (NASDAQ:DSKX) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on August 15, 2017 and NASDAQ:DSKX investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 08/11/2017 -- A deadline is coming up on August 15, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of DS Healthcare Group Inc (NASDAQ:DSKX) between May 15, 2014 and April 3, 2016.

Investors who purchased a significant amount of shares of DS Healthcare Group Inc (NASDAQ:DSKX) between May 15, 2014 and April 3, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the DS Healthcare Group Inc (NASDAQ:DSKX) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/ds-healthcare-group-inc-nasdaq-dskx-investor-securities-class-action-lawsuit-03292016

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is August 15, 2017. The class action administrator for this case is Strategic Claims Services.

The lawsuit was originally filed in the U.S. District Court for the Southern District of Florida over alleged violations of Federal Securities Laws by DS Healthcare Group Inc in connection with certain allegedly false and misleading statements made between August 13, 2015 and March 23, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of DS Healthcare Group Inc (NASDAQ:DSKX) common shares between August 13, 2015 and March 23, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 13, 2015 and March 23, 2016 the defendants made false and/or misleading statements and/or failed to disclose that the unaudited condensed consolidated financial statements for the two fiscal quarters ended June 30, 2015 and September 30, 2015 improperly recognized revenues related to certain DS Healthcare Group Inc customers, which did not meet revenue recognition criteria, that the unaudited condensed consolidated financial statements for the two fiscal quarters ended June 30, 2015 and September 30, 2015 contained certain equity transactions for the periods ended June 30, 2015 and September 30, 2015 that were not in accordance with United States Generally Accepted Accounting Principles and which were also not properly disclosed, that the defendant Khesin violated his fiduciary duty to DS Healthcare Group Inc and its subsidiaries, and that as a result, defendants' statements DS Healthcare Group Inc's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of DS Healthcare Group Inc (NASDAQ:DSKX) 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

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-21-million-settlement-in-the-ds-healthcare-group-inc-nasdaqdskx-investor-lawsuit-846851.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com