Investor Alert: Rosen Law Firm Files Class Action Lawsuit Charging ZAGG With Securities Fraud -- ZAGG

Published on Monday, 10 September 2012 16:38 Written by TradersHuddle Staff

NEW YORK, Sept. 10, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that it has filed a class action lawsuit against Zagg, Inc. (Nasdaq:ZAGG) asserting violations of the federal securities laws on behalf of purchasers of ZAGG stock during the period from February 28, 2012 to August 17, 2012.

To join the ZAGG class action, visit the firm's website at http://www.rosenlegal.com, or call Phillip Kim or Kevin Chan toll-free at 866-767-3653; you may also email This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or This e-mail address is being protected from spambots. You need JavaScript enabled to view it. for information on the class action. 

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.

The complaint alleges that ZAGG's CEO and founder Robert Pedersen pledged more than 50% of his ZAGG stock as collateral for a margin loan and that as a result, the company began a secret plan to replace him as CEO.  On August 17, 2012, ZAGG announced that its co-founder Robert G. Pedersen II resigned from his posts as CEO and Chairman of the company. Following the announcement, Robert Pedersen disclosed in an SEC filing that he had sold a total of 515,000 shares of ZAGG stock three days prior to his resignation. The majority of the shares were sold to meet margin calls. This adverse news caused the price of ZAGG stock to drop, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than November 5, 2012.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or This e-mail address is being protected from spambots. You need JavaScript enabled to view it. . You may also visit the firm's website at http://www.rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

CONTACT: Laurence Rosen, Esq.
         Phillip Kim, Esq.
         Kevin Chan
         The Rosen Law Firm P.A.
         275 Madison Avenue 34th Floor
         New York, New York 10016
         Tel:  (212) 686-1060
         Toll Free: 1-866-767-3653
         Fax: (212) 202-3827
         
 This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
 
         
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         www.rosenlegal.com