Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/gmrrq)
announces that a class action lawsuit has been filed in the United
States District Court for the Southern District of New York on behalf of
all persons who purchased the common stock of General Maritime Corp.
(“GMR” or the “Company”) (OTCBB: GMRRQ) between May 21, 2010 and
November 16, 2011, inclusive (the “Class Period”).
For more information regarding this class action suit, please contact
Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877)
316-3218 or by email at email@example.com
or visit: www.rmclasslaw.com/cases/gmrrq.
During the Class Period, GMR issued materially false and misleading
statements and omitted to state material facts that rendered their
affirmative statements misleading as they related to the Company’s
financial performance, business prospects, and financial condition. As a
result of these materially false and misleading statements, the price of
the Company’s securities was artificially inflated during the Class
Period. As the truth of the Company’s materially false and misleading
statements entered the market, the Company’s stock plummeted.
The complaint alleges that Defendants continually made false and
materially misleading statements and omissions during the Class Period
concerning the Company’s: liquidity; credit facilities; ability to meet
its debt obligations; need to borrow money or seek alternative
investments; and risk of not continuing as a going concern.
The complaint further alleges that Defendants’ scheme was to engage in a
highly leveraged and speculative purchase of tankers - at the risk and
expense of shareholders - based on management’s opinion that tanker
earnings would improve sharply. When tanker earnings actually declined,
Defendants issued repeated false and misleading statements about GMR’s
liquidity and financial ability to take on the purchase of the tankers,
in order to ensure that the Company’s stock would trade at inflated
levels until the tanker earnings rebounded in their favor.
If you are a member of the class, you may, no later than August 27,
2012, request that the Court appoint you as lead plaintiff of the class.
A lead plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be appointed lead
plaintiff, the Court must determine that the class member's claim is
typical of the claims of other class members, and that the class member
will adequately represent the class. Under certain circumstances, one or
more class members may together serve as "lead plaintiff." Your ability
to share in any recovery is not, however, affected by the decision
whether or not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your counsel
in this action.
For more information about the case or to participate online, please
or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or
by e-mail at firstname.lastname@example.org.
For more information about class action cases in general or to learn
more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal