SHAREHOLDER ALERT

Pomerantz Law Firm Reminds Shareholders With Losses on Their Investment in Corporate Resource Services, Inc. of Class Action Lawsuit and Upcoming Deadline - CRRS - Seite 2

On this news, shares of the Company fell $0.39 per share over the next two days, or 59%, from its previous closing price on February 2, 2015, to close at $0.27 per share on February 4, 2015.

On February 6, 2015, the Company filed a Form 8-K with the SEC during after-market hours revealing that the financial statements for the year ended January 3, 2014 and the quarters ended April 4, 2014, July 4, 2014 and October 3, 2014 can no longer be relied on due to TSE's material unpaid federal payroll tax liability. 

On this news, shares of the Company fell $0.06 per share, or over 18%, from its previous closing price to close at $0.27 per share on February 9, 2015.

On February 10, 2015, the Company announced the abrupt resignation of Defendants Clarke, Holzer, and Melby - the members of the Audit Committee - effective February 5, 2015. In each of their resignation letters, Defendants Clarke, Holzer, and Melby indicated that they learned of TSE's unpaid federal payroll tax liability on January 29, 2015 and the Audit Committee sought to commence an investigation on the matter, but was denied funding by Wells Fargo, which had sole control of the Company's financing. They also stated that their resignation stemmed from their inability to obtain funding to conduct the necessary investigation and other concerns about the situation, including the related party relationships between the Company and TSE. 

On this news, shares of the Company fell $0.04, per share or over 14%, from its previous closing price to close at $$0.23 per share on February 10, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

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Robert S. Willoughby
Pomerantz LLP
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