Brower Piven Encourages Investors Who Have Losses in Excess of $150,000 From
Investment in magicJack VocalTec Ltd. to Inquire About the Lead Plaintiff
Position in Securities Fraud Class Action Lawsuit Before the March 19, 2013
Lead Plaintiff Deadline -- CALL
STEVENSON, Md., Jan. 24, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional
Corporation announces that a class action lawsuit has been commenced in the
United States District Court for the Southern District of New York on behalf
of purchasers of magicJack VocalTec Ltd. ("magicJack" or the "Company")
(Nasdaq:CALL) common stock during the period between February 28, 2012 and
January 8, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in magicJack VocalTec Ltd.
common stock purchased on or after February 28, 2012, and held through January
8, 2013, you may obtain additional information about this lawsuit and your
ability to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at firstname.lastname@example.org, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley
Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply
to be appointed lead plaintiff no later than March 19, 2013 and be selected by
the Court. The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and how much of a
settlement to accept for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from investment in
the Company during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' failure to disclose during the Class
Period that the Company overstated its revenue, earnings, cash flow and/or
cash balance by, among other things, inconsistently treating its allowance for
doubtful accounts and billing adjustments, altering the estimated life of its
assets, causing a decrease in its depreciation expense, and claiming that it
was writing down its excess inventory of chips when it was actually writing
down finished products in an effort to hide weakening sales momentum.
According to the Complaint, following a January 9, 2013 report by Copperfield
Research that disclosed that the Company had been altering and overstating its
revenue and profitability, the value of magicJack shares declined
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice. You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
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