NEW YORK, Nov. 2, 2012 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Chanticleer Holdings, Inc. ("Chanticleer" or the "Company") who purchased or otherwise acquired Chanticleer Units pursuant or traceable to the Company's public offering, which commenced on or about June 21, 2012, including those who purchased or otherwise acquired Chanticleer common stock and Units between June 21, 2012 and September 10, 2012 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.
The investigation concerns whether Chanticleer and certain of its officers and/or directors have violated Sections 11, 12(a) (2) and 15 of the Securities Act of 1933.
On September 10, 2012, the Company announced in a press release 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 due to the misrepresentation that the financial statements for its South African operations, accounting for a majority of Chanticleer's revenues, had been audited. The Company explained that the audited financial statements of Chanticleer's South African operations were not audited. The Chief Financial Officer and Director of Chanticleer's South Africa operations, Mark Hezlett resigned immediately upon the announcement. As a result of these disclosures, the next day, on September 11, 2012, the NASDAQ Stock Market halted trading in Chanticleer's stock.
The Pomerantz Firm, with offices in New York, Chicago, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.