The Shuman Law Firm Investigates Liquidity Services, Inc.
DENVER, CO June 27, 2016 – The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of Liquidity Services, Inc. (“Liquidity Services” or the “Company”) (Nasdaq: LQDT). Liquidity Services is a Washington, DC-based company that operates online auction marketplaces for surplus, salvage and scrap assets.
The Firm’s investigation relates to whether certain current and/or former senior officers and directors breached their fiduciary duties to the Company. Specifically, on March 31, 2016, the U.S. District Court for the District of Columbia granted in part and denied in part a motion to dismiss a securities fraud class action against Liquidity Services and certain of its officers and directors. The class action lawsuit is now proceeding toward trial and alleges that from February 1, 2012 through May 7, 2014, Liquidity Services officials made false statements regarding the purported strength of the Company’s retail and commercial capital assets divisions, causing the stock price to be artificially inflated. Further, the lawsuit alleges that Liquidity Services’ Chief Executive Officer sold $68.2 million of Company stock at artificially inflated prices.
If you currently own Liquidity Services common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or by email at email@example.com or firstname.lastname@example.org.