IFO Citigroup Inc. Spx Lasers

Goldman Scarlato & Karon, P.C., a law firm with offices in Ohio and Pennsylvania, announces that a lawsuit has been filed in the United States District Court for the Southern District of California, on behalf of persons who purchased or otherwise acquired publicly traded securities of InfoSonics Corporation ("InfoSonics" or the "Company") (AMEX:IFO) between May 9, 2006 and June 9, 2006, inclusive, (the "Class Period"). The lawsuit was filed against InfoSonics and certain officers and directors ("Defendants"). If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at info@gsk-law.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than August 14, 2006 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel. The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants knew or recklessly disregarded that the Company had improperly accounted for warrants issued in connection with a January 2006 private placement. Before the market opened on June 12, 2006, InfoSonics announced that it would need to restate its previously reported financial results, and that it would need to revise downward its first quarter net income from $1.738 million to $1.173 million as a result of the improper accounting treatment of the warrants. In addition, the complaint alleges that while in possession of material nonpublic information regarding the investigation into its accounting for warrants, Defendants sold a large amount of their personal holdings. If you bought InfoSonics securities between May 9, 2006 and June 9, 2006, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 753-2796 to speak with an advisor.