The Rosen Law Firm has filed a securities class action against Electronic Game Card, Inc. as a result of allegations that it has misstated the value of the cash on its balance sheet.  EMGI's auditors advised EGMI that it has become aware of irregularities in the audit confirmation of a bank account of one of EGMI’s wholly owned subsidiaries. 

The SEC issued an Order temporary suspending trading in the Company’s stock because “there is a lack of current and accurate information concerning the securities of Electronic Game Card, Inc. because of questions regarding the accuracy of assertions by EGMI, and by others, in financial disclosures to investors concerning, among other things, the Company’s assets.”  As a result of the trading suspension, EGMI’s shares are effectively illiquid and shareholders have been damaged.

If you purchased Electronic Game Card, Inc. stock between April 5, 2007 and February 19, 2010 and would like to join the class action, please click on the link to the right of the page.