Harwood Feffer LLP announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Gerova Financial Group Ltd. ("Gerova" or the "Company") (NYSE: GFC - News) between January 8, 2010 and February 23, 2011, inclusive (the "Class Period").

No class has yet been certified in the above action. Class members will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than July 5, 2011 and be selected by the court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages to serve as a Lead Plaintiff. You may contact the Harwood Feffer LLP website (http://www.hfesq.com) or Samuel K. Rosen, directly, at srosen@hfesq.com to ask any questions you may have in that regard.

The Complaint alleges that throughout the Class Period, defendants misrepresented or failed to disclose material adverse facts about the Company's business, operations, and prospects, including but not limited to the fact that a substantial portion of the assets it acquired pursuant to several transactions in January 2010 were impaired, illiquid, and worth far less than their recorded value; and that some of these acquisitions were with companies controlled by or affiliated with Gerova's top officers.

On January 10, 2011, Dalrymple Finance LLC published a report critical of Gerova, labeling it as "a game of smoke and mirrors," and specifically questioning the valuation of the assets acquired in January 2010. On this news, Gerova shares dropped $1.06 or nearly 4%, to close at $26.98.

On February 10, 2011, after the market closed, the Company announced the resignation of the Company's Chairman of the Board, Chief Executive Officer, and Directors. On this news, Gerova shares declined by $9.31 or 59% for four consecutive trading sessions, to close at $6.39 on February 16, 2011.

On February 23, 2011, the NYSE halted the stock at $5.28 citing the need for "additional information relative to operations, management restructuring, and business plans." Gerova's shares were subsequently delisted. On April 18, 2011, the Company announced its intention to delist from the NYSE.

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

If you purchased Gerova common stock during the Class Period, suffered a loss on those shares in excess of $100,000 and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.
Samuel K. Rosen, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers:   (877) 935-7400
(212) 935-7400
Email:

rharwood@hfesq.com

srosen@hfesq.com

Website:

http://www.hfesq.com

Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Harwood Feffer LLP
Robert I. Harwood, Esq.
Samuel K. Rosen, Esq.
877-935-7400
212-935-7400
rharwood@hfesq.com
srosen@hfesq.com
http://www.hfesq.com