Scott+Scott, Attorneys at Law, LLP Announces Investigation of TCP International Holdings Ltd.
By Business Wire News
By Business Wire News
Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into TCP International Holdings Ltd. (NYSE:TCPI) (“TCPI”) related to potential violations of federal securities laws. If you are a TCPI shareholder, you are encouraged to contact Scott+Scott for additional information.
TCPI (NYSE:TCPI) designs, develops, manufactures, and markets lighting products and accessories to the commercial, industrial, and retail markets worldwide. TCPI offers various light emitting diode lamps, compact fluorescent lamps, halogen lamps, linear fluorescent lighting, and lighting fixtures. On June 26, 2014, TCPI conducted its Initial Public Offering (“IPO”) of its securities at $11.00 per share.
On February 27, 2015, TCPI announced that a lawsuit was filed in Cuyahoga County, Ohio against TCP and its Chief Executive Officer (“CEO”), Ellis Yan (“Yan”). As reported in Crains Cleveland, the lawsuit was filed by Laura Hauser, TCPI’s General Counsel and Chief Compliance Officer, and stated that “TCP’s ‘Chinese affiliate and manufacturing facility’ produced more than 900,000 units of another LED product that bore the UL symbol, even though they ‘did not match the design for the product as submitted to UL.’” On the news of the lawsuit, shares of TCPI fell over $3.25 per share to $3.13, or more than 50%, in intraday trading.
Crains Cleveland further reported that the complaint states that “Yan ordered the company to produce 40,000 LED lamps labeled with the ‘UL’ mark even though they had not been approved by the product testing company.”
What You Can Do
If you are a TCPI shareholder and you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joseph Halloran at (646) 582-0121 or via email at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.
Scott+Scott, Attorneys at Law, LLP
Joseph V. Halloran, 800-404-7770