On August 1, 2016, Diamond Resorts revealed that it will delay the release of its second quarter 2016 results, as its independent public accountant said "has expressed the view that the Company may not have correctly applied the relative sales value inventory valuation model in the preparation of its consolidated financial statements for 2014 and subsequent periods."
About a week ago, Diamond Resorts also stated that it had agreed to be acquired by Apollo Global Management for $30.25 per share. Right before this announcement, an entity that seemingly affiliated with Diamond Resort's Board Chairman, Stephen J. Cloobeck, sold his shares and for about $19 million in gross proceeds.
If you purchased Diamond Resorts shares or if you are aware of any facts relating to this investigation, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/drii. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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