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SParikh wrote: This article speaks true to the importance and capitalizing of the cloud. Me having experience dealing with cloud based tech and consulting and integration services, I realize the need for a secure and consistant cloud service. Many people are concerned with the privacy, or lack thereof, that could occur with storing personal documents into a non-physical storage unit. I can see, though with companies such as ours and Metacloud, we are working toward a more secure and easy to use cloud system for both personal and professional use. Spursh Parikh www.sererra.com
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Lead Plaintiff Houston Municipal Employees Pension System Announced That It Is Preparing a Consolidated Class Action Complaint in the KIT Digital, Inc. Securities Litigation

NEW YORK, Dec. 5, 2012 /PRNewswire/ -- Houston Municipal Employees Pension System ("HMEPS"), the court-appointed lead plaintiff acting on behalf of shareholders in the In re KIT Digital, Inc. Securities Litigation, No. 1:12-cv-04199-VM, announced today, through lead counsel Bernstein Liebhard LLP, that it is preparing a consolidated class action complaint that expands the class period in the action to include recently revealed facts related to KIT Digital's financial accounting problems.  

(Logo: http://photos.prnewswire.com/prnh/20120202/MM47134LOGO )

KIT Digital (Nasdaq: KITD), a New York-based video management software and services company, and certain of its senior executives, are being charged with artificially inflating the price of KIT Digital stock by issuing materially false and misleading statements, in violation of the federal securities laws.

The consolidated class action complaint will include allegations arising from defendants' alleged false and misleading statements concerning KIT Digital's business operations, financial condition, revenue recognition, internal controls, financial accounting, business integrations, and financial prospects.  HMEPS seeks to recover damages on behalf of all class members who purchased or otherwise acquired KIT Digital securities from May 19, 2009 through November 21, 2012. 

If you have any questions concerning the litigation, and/or have information relating to the fraud alleged at KIT Digital, please contact one of plaintiff's lead counsel, Laurence J. Hasson, at (212) 779-1414 or lhasson@bernlieb.com.

Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients.  It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last ten years.

Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(212) 779-1414
(877) 779-1414
www.bernlieb.com 

ATTORNEY ADVERTISING. © 2012 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Amy L. Abate.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

SOURCE Bernstein Liebhard LLP

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Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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