March 2, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Corporate Resource Services Inc (NASDAQ:CRRS) shares over potential securities laws violations by Corporate Resource Services Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Corporate Resource Services Inc (NASDAQ:CRRS) concerning whether a series of statements by Corporate Resource Services regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Corporate Resource Services Inc reported that its Total Revenue increased from $538.94 million for the 12 months period that ended on Sept. 30, 2011 to $819.67 million for the 12 months period that ended on January 3, 2014 and that its respective Net Income increased from $0.11 million to $278 million. Shares of Corporate Resource Services Inc (NASDAQ:CRRS) traded as high as $5.00 per share in September 2013. However, since then NASDAQ:CRRS shares lost significant value.

Through partial disclosures beginning in early February 2015, Corporate Resource Services Inc revealed that Corporate Resource Services Inc was in noncompliance with a funding agreement it has with Wells Fargo, that Corporate Resource Services Incs financial statements for 2014 could no longer be relied upon, that several members of Corporate Resource Services Incs audit committee resigned, and that an internal investigation required by the former audit committee members would not be funded.

NASDAQ:CRRS shares declined to as low as $0.05 per share on February 23, 2015.