Industrial Enterprises of America Inc fka IEAM

[Teamlasvegas]

December 14, 2007 - 10:04 PM EST


IEAM 0.79 -0.05



Notice to Investors: The Rosen Law Firm Reminds Investors of Upcoming Deadline in Securities Class Action Lawsuit -- Motion Date is January 15, 2008 -- IEAM
NEW YORK, Dec. 14, 2007 (PRIME NEWSWIRE) -- The Rosen Law Firm reminds current and former shareholders of Industrial Enterprises of America, Inc. ("IEAM" or the "Company") (Nasdaq:IEAM) (formerly (OTCBB:IEAM)) that they have until January 15, 2008, to move for appointment as lead plaintiff.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.

If you purchased IEAM stock during the period from November 14, 2006 through November 8, 2007, and wish to join the IEAM securities litigation as a plaintiff, or for further information, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email [e-mail] or [e-mail] for information on the class action.

You can join the class action online at http://www.rosenlegal.com .

The complaint charges that IEAM and certain of its present and former officers, directors, and control persons violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing materially false and misleading statements pertaining to IEAM's business prospects and condition, and filing financial statements with the SEC materially false financial statements. On November 7, 2007 the Company announced that investors could no longer rely on its historical financial statements and that the Company had not properly followed generally accepted accounting principles, necessitating a revision of reported revenue, among other things. The Company also announced that it had suspended its CFO pending a review. As a result of these events, the Complaint asserts that the price of IEAM stock dropped, damaging investors.

The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.

More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca

CONTACT: The Rosen Law Firm P.A.
Laurence Rosen, Esq.
[e-mail]
Phillip Kim, Esq.
[e-mail]
[phone]
1-866-767-3653
Fax: [phone]
www.rosenlegal.com



Source: PrimeNewswire (December 14, 2007 - 10:04 PM EST)

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