Press release from Business Wire
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Audience, Inc.
Friday, September 28, 2012
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Audience, Inc.19:00 EDT Friday, September 28, 2012 BENSALEM, Pa. (Business Wire) -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the Superior Court of California, County of Santa Clara, on behalf of a class (the “Class”) consisting of all purchasers of the common stock of Audience, Inc. (“Audience” or the “Company”) (NASDAQ:ADNC) pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with its May 10, 2012 initial public offering. Audience provides intelligent voice and audio solutions for mobile devices worldwide. The Complaint alleges violations of the Securities Act of 1933 and further alleges that defendants' public statements misrepresented and/or failed to disclose material adverse facts concerning the Company's business, operations and prospects. On September 6, 2012 the Company disclosed that Apple Inc. (“Apple”) was unlikely to use its processor intellectual property in the iPhone 5, which was expected to be launched in the second week of September. Apple's licensing of the Company's processor intellectual property had accounted for 37% of Audience's total revenue for both the three and six months ended June 30, 2012. Following this news, shares of Audience declined almost 60%. To be a member of the Class, you need not take any action at this time or you may retain counsel of your choice. If you purchased or otherwise acquired Audience common stock pursuant or traceable to the Company's May 10, 2012 initial public offering, if you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com. Law Offices of Howard G. SmithHoward G. Smith, Esquire215firstname.lastname@example.org