NASDAQ GS
DSKX

DS Healthcare Group, Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against DS Healthcare Group, Inc. (NASDAQ GS: DSKX)

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of Florida on behalf of all persons or entities that purchased the common stock of DS Healthcare Group, Inc. (“DS Healthcare” or the “Company”) (NASDAQ CM: DSKX) between August 13, 2015 and March 23, 2016, 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 DS Healthcare during the Class Period, or purchased shares prior to the Class Period and still hold DS Healthcare, 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.

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.  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 March 23, 2016 after the market closed, Defendant DS Healthcare filed a Form 8-K (the “Form 8-K”) with the SEC which disclosed errors in its unaudited condensed consolidated financial statements for the two fiscal quarters ended June 30, 2015 and September 30, 2015 and stated these financial statements should no longer be relied upon.  Defendant DS Healthcare further stated that it will restate the financial statements for two fiscal quarters ended June 30, 2015 and September 30, 2015, and that the adjustments will be material to investors when finalized.  These errors related to revenue recognition for certain customers and certain equity transactions. Additionally, Defendant DS Healthcare disclosed that its Board of Directors terminated Defendant Khesin as its President for cause and removed him as its Chairman of the Board for cause.

On this news, shares of DS Healthcare dropped over 35%, closing at $0.86 per share on March 24, 2016, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  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.

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