Press release from Business Wire
Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Ixia
Friday, December 13, 2013
Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Ixia21:32 EST Friday, December 13, 2013
BENSALEM, Pa. (Business Wire) -- Law Offices of Howard G. Smith announces that investors of Ixia (the “Company”) (NASDAQ:XXIA) have until January 14, 2014, to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of Ixia securities between April 29, 2010 and October 24, 2013, inclusive (the “Class Period”).
Ixia delivers information technology solutions including real-time monitoring, real-world testing, and rapid assessment of network and system user behavior, security vulnerabilities, capacity, application performance, and IT resiliency. The Complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the defendants misrepresented or failed to disclose that:
- The Company improperly recognized revenues related to its warranty and software maintenance contracts.
- The Company's Chief Executive Officer misstated his academic credentials and employment history.
- The Company lacked adequate internal and financial controls.
If you are a member of the Class described above, you have certain rights and have until January 14, 2014, to move for lead plaintiff status. To be a member of the class you need not take any action at this time or may retain counsel of your choice. If you purchased shares prior to the Class Period and wish to learn more concerning 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 firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire