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HOM LifeGoal Home Down Payment Investment ETF

8.635
0.00 (0.00%)
After Hours
Last Updated: 01:00:00
Delayed by 15 minutes
Name Symbol Market Type
LifeGoal Home Down Payment Investment ETF AMEX:HOM AMEX Exchange Traded Fund
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 8.635 0 01:00:00

The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit Against Home Solutions of America, Inc.

21/06/2006 7:31pm

Business Wire


LifeGoal Home Down Payme... (AMEX:HOM)
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Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the Northern District of Texas, on behalf of persons who purchased or otherwise acquired publicly traded securities of Home Solutions of America, Inc. ("Home Solutions" or the "Company") (AMEX:HOM) between April 11, 2006 and June 6, 2006, inclusive, (the "Class Period"). The lawsuit was filed against Home Solutions and certain officers and directors ("Defendants"). If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at info@gsk-law.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than August 21, 2006 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint alleges that Defendants made a series of false and misleading statements and or omissions regarding the Company's revenue opportunities. In particular, starting on April 11, 2006, Home Solutions began announcing a series of new contract awards related to infrastructure support for Hurricane Katrina rebuilding efforts. One such deal involved American Renaissance Homes ("ARH"), a builder that purportedly contracted with Home Services to provide services in conjunction with the rebuilding efforts. However, on June 6, 2006, the Company announced that it was in fact lending up to $800,000 to ARH for "working capital" purposes. The complaint further alleges that Defendants prior representations regarding a dramatic ramp up in revenues based on these contract opportunities was false and misleading, concealing the Company's inability to expand either revenues or margins. In reaction to this news, shares of Home Solutions' stock fell, losing 29.1%, or $2.80 per share, to close on June 6, 2006 at $6.80 per share. If you bought Home Solutions securities between April 11, 2006 and June 6, 2006, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 753-2796 to speak with an advisor.

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