RHI Entertainment, Inc Hit By Shareholder Lawsuit

An broker in RHI Entertainment, Inc. (NasdaqGM: RHIE) filed a accusation in the United States District Court for the Southern District of New York on account of purchasers of the accepted banal of RHI Entertainment, Inc. (Nasdaq:RHIE) pursuant and/or traceable to its antecedent accessible alms on or about June 19, 2008, adjoin RHI Entertainment, Inc. (Public, NASDAQ:RHIE) and others over declared violations of Federal Securities Laws.

Those who purchased accepted banal of RHI Entertainment, Inc. (Nasdaq:RHIE) pursuant and/or traceable to its antecedent accessible alms on or about June 19, 2008, accept assertive options and there are austere and abbreviate deadlines running. Deadline: December 08, 2009. Those RHIE investors should acquaintance the Shareholders Foundation, Inc at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 - 1554. According to the complaint the plaintiff alleges that RHI Entertainment and assertive of its admiral abandoned the Securities Act of 1933 arising abundant absolute statements apropos its banking condition, business and prospects. On or about June 13, 2008, RHI Entertainment filed with the United States Securities and Exchange Commission (“SEC”) a Form S-1/A Registration Statement for the IPO. On or about June 19, 2008, the Prospectus with account to the IPO, which forms allotment of the Registration Statement, became able and, including the exercise of the over-allotment, added than 13.5 actor shares of RHI’s accepted banal were awash to the public, thereby adopting added than $189 million. The plaintiff alleges that the description of RHI Entertainment’s business in the Registration Statement created the materially ambiguous consequence that at the time of the IPO RHI Entertainment had orders for 40 MFT movies and mini-series which had been paid for, were in assembly and would be delivered in the after bisected of the year. The complaint added alleges that these statements were materially apocryphal and ambiguous because defendants bootless to acknowledge that, accustomed the crumbling accompaniment of the acclaim markets and added abrogating factors again impacting the Company’s business, the Company would not be able to complete 40 MFT movies and miniseries in 2008.

RHI Entertainment, Inc., amid in New York, NY, develops, produces and distributes new made-for-television movies, mini-series and added television programming worldwide. The Company provides long-form television content, including calm made-for-television (MFT), movies and mini-series. RHI Entertainment, Inc appear in 2007 Total Revenue of $232.01million and in 2008 Total Revenue of $226.44million. Shares of RHI Entertainment, Inc. (NasdaqGM: RHIE) traded afresh at $2.94 per allotment and were down from its 52weekHigh of $15.03 per share.