This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Izard Nobel LLP Announces Class Action Lawsuit Against RHI Entertainment, Inc. 2009-10-13 13:33 ET - News Release WEST HARTFORD, CT
-- (MARKET WIRE)
-- 10/13/09 
The law firm of Izard Nobel LLP, which
has significant experience representing investors in prosecuting claims of
securities fraud, announces that a lawsuit seeking class action status has
been filed in the United States District Court for the Southern District of
New York on behalf of those who purchased the common stock of RHI
Entertainment, Inc. ("RHI Entertainment" or the "Company") (NASDAQ: RHIE)
pursuant and/or traceable to the Company's initial public offering (the
"IPO" or the "Offering") on or about June 19, 2008.
The complaint charges RHI Entertainment and certain of its executives
violated federal securities laws. It is alleged that, throughout the Class
Period, defendants made positive statements regarding the Company's
financial condition, business and prospects. Specifically, the description
of the Company's business in the Form S-1/A Registration Statement (the
"Registration Statement") filed in connection with the IPO, on or about
June 19, 2008, created the materially misleading impression that at the
time of the IPO the Company had orders for 40 MFT movies and mini-series
which had been paid for, were in production and would be delivered in the
later half of the year. The complaint further alleges that these
statements were materially false and misleading because defendants failed
to disclose that, given the declining state of the credit markets and other
negative factors then impacting the Company's business, RHI Entertainment
would not be able to complete 40 MFT movies and miniseries in 2008.
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