Electronic Game Card, Inc. (OTC:EGMI) is facing a class action lawsuit alleging that the company and certain of its executive officers have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The lawsuit was filed in the United States District Court for the Central District of California. It was filed by Johnson Botttini, LLP on behalf of all who have purchased or acquired securities from the company between April 5, 2007 and February 19, 2010. The company is accused of issuing false and misleading statements during this time period.
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Electronic Game Card, Inc. (EGC) is a designer and manufacturer of a gaming device. The gaming device is marketed under the name of EGC Electronic GameCard referred to as GameCard. The shape of a pocket GameCard is approximately the size of a credit card, operated electronically by touch and incorporating a microchip and liquid crystal display (LCD) screen showing numbers or icons. EGC designs its GameCards to play game types, formats and prize structures as required by its customers and is building a software library of generic game formats of themes.
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