Dyer & Berens LLP Announces That a Class Action Has Been Filed on Behalf of Purchasers of Smith Micro Software, Inc. Common Stock; Announces August 29, 2011 Deadline (SMSI)
(firmenpresse) - DENVER, CO -- (Marketwire) -- 07/21/11 -- Dyer & Berens LLP () today announced that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of Smith Micro Software, Inc. (NASDAQ: SMSI) common stock during the period between November 3, 2010 and May 4, 2011 (the "Class Period").
If you purchased during the Class Period and wish to serve as a lead plaintiff, you must request appointment by court no later than August 29, 2011. If you would like to discuss this action, the lead plaintiff process, or have any other questions concerning this notice, please contact Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at .
The complaint alleges that, throughout the Class Period, defendants issued materially false and misleading statements regarding the company's business prospects and financial results. Specifically, the complaint alleges that defendants failed to disclose: (i) Smith Micro's 2010 revenue surge was not due solely to organic growth from real end-market demand, but rather it was partially due to an inventory build by the company's customers; (ii) the transition in the wireless industry from a 3G to a 4G network would not have a positive impact on Smith Micro's operations; (iii) the risks to demand for its software associated with the launch of 4G devices by wireless carriers; (iv) the impact of a growing industry trend, that of PC cards being displaced by mobile hotspots, and as a result of this shifting technological trend, demand for the company's core connectivity software would be negatively impacted; (v) demand for certain of Smith Micro's new products was not as immediate and robust as defendants had represented it would be; and (vi) known trends and uncertainties as required by SEC regulations concerning its revenue growth rate. Based upon the foregoing, the complaint charges Smith Micro and certain of its officers with violations of the Securities Exchange Act of 1934.
Dyer & Berens LLP has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.
Contact:
Jeffrey A. Berens
Dyer & Berens LLP
303 East 17th Avenue, Suite 300
Denver, CO 80203
Tel: (888) 300-3362 x302
Email:
Website:
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Datum: 21.07.2011 - 15:44 Uhr
Sprache: Deutsch
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