Investors of NetSol Technologies, Inc. With Losses of $100,000 or More Are Encouraged to Contact Law Offices of Howard G. Smith
September 03 2014 - 10:32AM
Business Wire
Law Offices of Howard G. Smith announces 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 the
securities of NetSol Technologies, Inc. (“NetSol” or the “Company”)
(NASDAQ:NTWK) between November 12, 2009 and November 8, 2013,
inclusive (the “Class Period”). Investors who have losses of
$100,000 or more are encouraged to contact the firm for more
information.
NetSol designs, develops, markets and exports software products
to the automobile finance and leasing, banking, healthcare and
financial services industries worldwide. The Complaint alleges that
throughout the Class Period, defendants issued materially false
and/or misleading statements or failed to disclose material facts,
including that:
- NetSol's next generation product was
not expected to be completed when promised by the Company.
- Relevant potential customers had not
expressed interest in the next generation solution.
- NetSol did not expect future growth
through increased revenues from both the current version and the
next generation of its NetSol Financial Suite, and did not have a
reasonable basis for stating that its target customers were
planning to replace their legacy systems, or that NetSol was
positioned to gain new business from these companies.
If you are a member of the Class described above, you have until
September 23, 2014, to move the Court to serve as lead plaintiff,
if you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if you have
any questions concerning this announcement 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
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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