San Diego, CA -- (ReleaseWire) -- 10/02/2012 -- An investigation on behalf of current long-term investors in shares of DGSE Companies, Inc. (NYSEAMEX:DGSE) was announced concerning whether certain directors and officers of DGSE Companies, Inc. breached their fiduciary duties in connection with certain financial statements.
Investors who are current long term stockholders in DGSE Companies, Inc. (NYSEAMEX:DGSE) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current follows a lawsuit filed earlier against DGSE Companies, Inc. (NYSEAMEX:DGSE). The plaintiff alleges that DGSE Companies, Inc violated the Securities Exchange Act of 1934 by issuing between April 15, 2011 and April 17, 2012 allegedly materially false and misleading statements regarding the Company's business operations, financial condition and prospects.
On April 16, 2012, DGSE Companies, Inc. disclosed that on April 13, 2012, its Board of Directors determined the existence of certain accounting irregularities beginning approximately during the second calendar quarter of 2007 and continuing in periods subsequent thereto, which could affect financial information reported since that time. DGSE Companies said it believes that the accounting irregularities are the result of improper accounting of inventory and other balance sheet accounts by its former Chief Financial Officer.
On April 17, 2012 DGSE Companies, Inc. announced that trading in its common stock has been halted on the American Stock Exchange effective 9:30AM EDT. DGSE Companies, Inc said the trading halt is the result of the its inability to comply with certain information disclosure requirements of the American Stock Exchange.
Those who are current long term investors in DGSE Companies, Inc. (NYSEAMEX:DGSE) shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego