NEW YORK, July 28, 2014 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies
investors that a securities class action has been filed in the
United States District Court for the Central District of
New York on behalf of those who
purchased shares of NetSol Technologies, Inc. ("NetSol" or the
"Company") (NasdaqCM: NTWK), during the period between March 10, 2011 and November 8, 2013, inclusive (the "Class
Period").
The complaint charges NetSol and certain of its executives with
violations of federal securities laws. Specifically, the
complaint alleges that: (i) NetSol's next generation product was
not expected to be completed when promised by the Company; (ii)
serious interest in NetSol's next generation solution had not been
expressed by a few global companies; (iii) NetSol was not
experiencing a growing interest in its next generation NFS product,
and the product was not ready for testing at customer sites; (iv)
The Company did not expect future growth through increased revenues
from both the current version and the next generation of NFS; (v)
there was no reasonable basis for stating that development of the
next generation of NFS would change the landscape for NetSol and
increase both demand and the market; (vi) NetSol did not have a
reasonable basis for stating that its target customers who were
still using old systems for maintaining their lease and finance
portfolios were planning to replace their legacy systems or that
NetSol was in a good position to tap new business from these
companies; and (vii) all internal data pointed to a continued
business decline; not "growth and strength across the business" as
represented by the Company.
Plaintiff seeks to recover damages on behalf of all shareholders
who purchased shares of NetSol during the Class Period described
above.
No Class has yet been certified in the above action. If you wish
to review a copy of the Complaint, to discuss this action, or have
any questions, please contact Edward N.
Gewirtz, Esq. or his Investor Relations Coordinator
Eitan Kimelman of Bronstein, Gewirtz
& Grossman, LLC at 212-697-6484 or via email info@bgandg.com.
Those who inquire by e-mail are encouraged to include their mailing
address and telephone number. September 23, 2014 is the deadline for investors
to seek a lead plaintiff appointment. Your ability to share
in any recovery doesn't require that you serve as a lead
plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Edward N. Gewirtz or Eitan Kimelman 212-697-6484
info@bgandg.com
SOURCE Bronstein, Gewirtz & Grossman, LLC