Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Medbox, Inc. (“Medbox” or the “Company”) (OTC MKTS: MDBX) securities between November 20, 2013 and December 29, 2014.
The complaint alleges that during the Class Period defendants concealed that: (a) Medbox was recognizing revenue before earned on certain customer contracts; (b) the Company lacked effective internal controls; (c) due to its false financial reporting, Medbox was not complying with Generally Accepted Accounting Principles or SEC rules and regulations, and thus was not eligible for listing on the national exchange; (d) due to its financial misstatements, Medbox was not in compliance with its debt covenants; and (e) as a result of the aforementioned, Medbox was not on track to achieve its financial targets during the Class Period. If you suffered a loss in Medbox you have until March 23, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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