NEW YORK, June 25, 2012 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of DGSE Companies, Inc. ("DGSE" or the "Company") (NYSE: DGSE -News), concerning whether the company and certain of its officers and directors have violated federal securities laws.
DGSE received written notice that the SEC initiated a private investigation into certain accounting irregularities, disclosed in the Company's Current Report on Form 8-K, dated April 16, 2012, to determine whether any persons or entities engaged in, or are about to engage in, any possible violations of the federal securities laws. The stock has been halted at $7.43.
On April 16, 2012 the Company disclosed that the Company's board of directors had determined the existence of certain accounting irregularities beginning during DGSE's 2007 second calendar quarter and continuing in all subsequent periods, which could affect financial information reported since that time. According to the Company, the accounting irregularities were the result of improper accounting of inventory and other balance sheet accounts by its former Chief Financial Officer. On this news, the trading of DGSE common stock was halted by the American Stock Exchange. The company now has until October to comply with American Stock Exchange rules to avoid delisting.
If you are aware of any facts relating to this investigation, or purchased shares of DGSE, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address 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.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC