NASDAQ CM
CRRS

Corporate Resource Services, Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Corporate Resource Services, Inc. (NASDAQ CM: CRRS)

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Corporate Resource Services, Inc. (“CRRS” or the “Company”) (NASDAQ CM: CRRS) between July 1, 2014 and February 6, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of CRRS during the Class Period, or purchased shares prior to the Class Period and still hold CRRS, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

CRRS is a diversified technology staffing, recruiting, and consulting services firm.  The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  Specifically, the Complaint alleges that the defendants concealed from the investing public that that its co-employer, Tri-State Employment Services, Inc. (“TSE”), had a material unpaid federal payroll tax liability, which would adversely impact the Company and that the Company was not in compliance with the Account Purchase Agreements with Wells Fargo as of November 30, 2014.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on February 6, 2015, the Company filed a Form 8-K with the SEC during after-market hours revealing that the financial statements for the year ended January 3, 2014 and the quarters ended April 4, 2014, July 4, 2014 and October 3, 2014 can no longer be relied on due to TSE's material unpaid federal payroll tax liability.

On this news, shares in CRRS fell over 18%, closing at $0.27 per share on February 9, 2015.

If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2015.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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