NEW YORK, Sept. 28, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announced today that the firm has filed a class action on behalf of all purchasers of Digital Domain Media Group, Inc. (OTCBB:DDMGQ) stock in the Company's initial public offering on November 18, 2011, as well as those investors who bought DDMG stock between November 18, 2011 and September 6, 2012.

If you purchased DDMG stock you may join the DDMG class action by visiting the firm's website at http://rosenlegal.com; you may call Phillip Kim, Esq., toll-free, at 866-767-3653 or email pkim@rosenlegal.com for information on the class action.

The Complaint alleges that defendants misrepresented the Company's true financial condition. Namely, defendants (a) did not accurately describe the Company's "burn rate" of cash and the Company's ability to continue as a going concern; (b) failed to disclose that at the time of the IPO, DDMG CEO Textor had entered into an undisclosed loan agreement for $10 million which was secured by DDMG shares; and (c) failed to disclose that certain members of DDMG's senior management had previously served as senior management of another company that went bankrupt in 2008. The Complaint alleges that these undisclosed facts materialized in the form of DDMG's bankruptcy filing on September 11, 2012, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than November 19, 2012. A lead plaintiff is a representative party acting on behalf of other absent 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 Jonathan Horne, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at jhorne@rosenlegal.com or pkim@rosenlegal.com. 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.

Prior results do not guarantee a similar outcome.

Phillip Kim, Esq.
Jonathan Horne, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue, 34th Floor
New York, New York 10118
Tel:  (212) 686-1060
Weekends Tel: (917) 562-8616
Toll Free: 1-866-767-3653
Fax: (212) 202-3827


www.rosenlegal.com