Finkelstein Thompson LLP Announces Investigation of Inteliquent Inc.
August 08 2013 - 1:21PM
Business Wire
The law firm of Finkelstein Thompson LLP is investigating
potential claims on behalf of shareholders of Inteliquent, Inc.
(NASDAQ: IQNT) (“Inteliquent” or “the Company”) related to the
Company’s announcement that it would delay its second-quarter
earnings call as a result of an ongoing investigation by the Board
of Directors’ audit committee into a charge taken last year and its
financial forecasting. If you are interested in discussing your
rights as an Inteliquent shareholder, or have information relating
to this investigation, please contact Finkelstein Thompson’s
Washington, DC offices at (202)-337-8000 or by email at
contact@finkelsteinthompson.com.
For the year ended December 31, 2012, Inteliquent reported a
$75.3 million impairment charge, and a net loss of $78.1 million.
On August 8, 2013, Inteliquent announced that, “[d]uring the second
quarter of 2013, the Board of Directors of the Company determined
that an internal investigation of whether such impairment charge
was overstated should be undertaken by the Audit Committee with the
assistance of independent outside professionals” and that the same
committee “with the assistance of independent outside
professionals, should conduct an internal investigation of the
Company’s financial forecasting practices during the fourth quarter
of 2012 and the first quarter of 2013.” Following this
announcement, Inteliquent’s share price plunged more than 20%.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or
co-counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our
website at www.finkelsteinthompson.com. Attorney advising. Prior
results do not guarantee similar outcomes.
Finkelstein Thompson LLPElizabeth R. Makris877-337-1050
Inteliquent, Inc. (NASDAQ:IQNT)
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