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BKF Capital Group Inc. Case 05/18/2007

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Lawsuit Overview

Company
BKF Capital Group
Security
OTC: BKFG

Case Name
BKF Capital Group Inc. Case 05/18/2007
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
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Summary

<p> </p> <p>The original complaint alleges that Defendants, BKF, and certain of its officers and directors, violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that during the Class Period, Defendants issued a series of false and misleading statements concerning the Company.</p>
<p> </p>
<p>On or about October 18, 2005, Defendants revealed that BKF’s financial reports were not reliable and that the financial reports dating back to the beginning of 2004 would need to be restated. These disclosures caused the price of BKF shares to decline over $7.40 per share in one day, falling over 30%, and closing at just above $17.00 per share.</p>
<p> </p>