NEW ORLEANS, July 21, 2015 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into IDI, Inc. (NYSE MKT: IDI).
On July 21, 2015, Seeking Alpha published an article claiming that IDI's Chairman Michael Brauser has a "long track record of fraud lawsuits, bankruptcy and shareholder wipeouts," including suits by Equifax accusing him of "fictitious receivables" and by Softbank accusing him of "various frauds." The article further claims that IDI's stock has been artificially inflated by a "Yahoo message board stock promotion campaign" and faces a credible lawsuit from Transunion that, if IDI loses, will cripple the Company's technology and business.
On this news, the price of IDI's shares plummeted by 46%.
KSF's investigation is focusing on whether IDI and/or its officers and directors violated state or federal securities laws.
If you are an IDI shareholder who has suffered losses related to your investment or have information that would assist KSF in its investigation, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York, California and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC