Robbins Umeda LLP Announces an Investigation of Chanticleer Holdings, Inc.
Robbins Umeda LLP announces an investigation into Chanticleer Holdings, Inc. (NASDAQCM: HOTR). Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
Robbins Umeda LLP is investigating whether officers and/or directors at Chanticleer issued materially false and misleading statements to investors that were designed to deceive the market and artificially inflate the company’s stock price. In particular, the firm is examining allegations that senior officials at Chanticleer misled investors by providing false statements regarding the company’s financial position. Specifically, on September 10, 2012, Chanticleer announced that the company’s consolidated financial statements for its fiscal year ending December 31, 2011, and for its fiscal quarters ending March 31, 2012 and June 30, 2012, could no longer be relied on. The company explained that the audited financial statements of Chanticleer’s South African operations were not audited as the investment public was led to believe. Mark Hezlett, the Chief Financial Officer and Director of Chanticleer’s South African operations, resigned immediately upon the announcement. The next day, on September 11, 2012, the NASDAQ Stock Market announced that trading was halted in Chanticleer.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.