Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Audience, Inc.
Monday, September 24, 2012
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Audience, Inc.19:30 EDT Monday, September 24, 2012 LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP 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 September 21. 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%. If you purchased or otherwise acquired Audience common stock pursuant or traceable to the Company's May 10, 2012 initial public offering, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org or visit our website at http://www.glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael Goldberg310-201-9150 or email@example.com