The Briscoe Law Firm and Powers Taylor, LLP Investigate SearchMedia Holdings Limited on Behalf of Shareholders for Possible Breaches of Fiduciary Duties by its Officers and Directors

The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of SearchMedia Holdings Limited ("SearchMedia” or "Company”) (NYSE:IDI) during the period of April 1, 2009 and August 20, 2010 ("class period”).

It has been alleged that during the class period, SearchMedia and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding the Company, more specifically: (1) SearchMedia improperly recognizing revenue; (2) certain SearchMedia accounts receivable related to sales generated primarily in the in-elevator business were uncollectible, (3) SearchMedia's financial results during the class period were materially overstated; (4) SearchMedia's financial results were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (5) SearchMedia lacked adequate internal and financial controls; and (6) as a result of the above, SearchMedia's financial statements were materially false and misleading at all relevant times. On August 20, 2010, SearchMedia announced that revenue in 2007 and 2008 had been overstated by approximately $6 million and $25 million, respectively. On this news, SearchMedia's stock plummeted almost 23% to close as $2.62 per share on August 20, 2010.

If you currently own or purchased SearchMedia/IDI shares and would like additional information regarding this investigation or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.