Joe's Crab Shack Owner Faces Investor Suit Over IPO Errors

Law360, New York (July 23, 2012, 1:43 PM EDT) -- Ignite Restaurant Group, owner of the Joe's Crab Shack restaurant chain, was hit with a proposed shareholder class action Friday in Texas after revealing there had been numerous accounting errors in the registration statement for its $80 million initial public offering.

Shareholder Chaz Campton filed the suit on behalf of himself and others who purchased stock in Ignite's May 10 IPO, saying the company's CEO and other directors, as well as underwriters including Credit Suisse Securities USA LLC, failed to ensure that information in the registration...
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