NEW YORK, Sept. 21, 2016 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Inteliquent, Inc.
("Inteliquent" or the "Company") (NASDAQ: IQNT) (ISIN:
US45825N1072). Investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com
or 888-476-6529, ext. 9980.
The investigation concerns whether Inteliquent and certain of
its officers and/or directors have violated Sections 10(b) and
20(a) of the Securities Exchange Act of 1934.
[Click here to join a class action]
On August 2, 2016, pre-market, the
Company filed a Current Report on Form 8-K with the U.S. Securities
and Exchange Commission reporting its second quarter 2016 results.
The Company missed its profit expectations and lowered revenue
guidance to the range of $360 million to
$370 million, down from previous guidance in the range of
$370 million to $390 million, and
lowered its EBITDA forecast to the range of $80 million to $85 million, down from a previous
forecast of $82 million - $92
million. On this news, Inteliquent stock fell
$4.29, or 20.54%, to close at
$16.60 on August 2, 2016. On September 19, 2016, post-market, Inteliquent
announced the resignation of the Company's Chief Financial Officer,
Kurt Abkemeier, effective
September 23, 2016, citing
Abkemeier's pursuit of "another career opportunity at a software
company." On this news, Inteliquent stock fell $1.37, or 8.2%, to close at $15.34 on September 20,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com.
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SOURCE Pomerantz LLP