NYSE
TCPI

TCP International Holdings Ltd.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against TCP International Holdings Ltd. (NYSE: TCPI)

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 Northern District of Ohio on behalf of all persons or entities that purchased the common stock of TCP International Holdings Ltd. (“TCP” or the “Company”) (NYSE: TCPI) between June 26, 2014 and February 27, 2015, inclusive, including those investors who acquired TCP shares pursuant or traceable to its initial public offering (“IPO”) commenced on June 26, 2014 (collectively, the “Class Period”), alleging violations of the Securities Act of 1933 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of TCP during the Class Period 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.

TCP, together with its subsidiaries, designs, develops, manufactures and delivers high quality energy-efficient lamps, fixtures and internet-based lighting control solutions.  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 TCP’s Registration Statement issued in connection with the IPO included information that was false.  The Registration Statement negligently contained statements that falsely described the Company’s operations and business, including false statements concerning the Company’s important Underwriters Laboratory (“UL”) and Energy Star approvals, compliance, and qualifications.  In addition, the Registration Statement failed to disclose certain material events known to defendants that caused the information reported in the Registration Statement and other public statements not to be indicative of TCP’s actual operations.  As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on February 26, 2015, Laura Hauser, the Company’s General Counsel, filed a lawsuit against TCP, its subsidiary and CEO Ellis Yan (“Yan”), claiming that Yan has run the lighting products company in a reckless and unethical way — and threatened her for bringing it up with the Company’s board.  Among the problems Hauser cited in the lawsuit: Yan allegedly ordered the company to produce 40,000 LED lamps labeled with the “UL” mark even though they had not been approved by the product testing company.  The lamps eventually failed UL tests, the lawsuit stated.

On this news, shares in TCP plummeted over 57%, closing at $2.74 per share on February 27, 2015, on heavy trading volume of over 2.8 million shares.

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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