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Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline in the Class Action Lawsuit against Velti plc



  Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline in the Class
  Action Lawsuit against Velti plc

Business Wire

LOS ANGELES -- August 30, 2013

Glancy Binkow & Goldberg LLP, announces that all purchasers of Velti plc
(“Velti” or the “Company”) (NASDAQ:VELT) securities between January 27, 2011
and August 20, 2013, inclusive (the “Class Period’), have until October 21,
2013 to file a motion to be appointed as lead plaintiff in the shareholder
lawsuit filed in the United States District Court for the Northern District of
California.

A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888)
773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU
INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND
NUMBER OF SHARES PURCHASED.

The Complaint charges Velti and certain of the Company’s executive officers
with violations of federal securities laws. Velti engages in the provision of
mobile marketing and advertising technology and solutions for brands,
advertising agencies, mobile operators, and media companies primarily in
Europe, the Americas, Asia, and Africa. The Complaint alleges that throughout
the Class Period, the defendants made false and/or misleading statements, as
well as failed to disclose material adverse facts about Velti's statements and
reported financial results. Specifically, the Complaint alleges that the
defendants made false and/or misleading statements and/or failed to disclose:
(1) that the Company was having difficulties collecting certain receivables;
(2) that certain of the Company’s receivables were uncollectible; (3) that, as
a result, the Company’s revenues and receivables were overstated during the
Class Period; (4) that the Company lacked adequate internal and financial
controls; and (5) that, as a result of the foregoing, the Company’s statements
and reported financial results were materially false and misleading at all
relevant times.

On August 20, 2013, the Company reported its 2013 fiscal second quarter
financial results and disclosed that the Company had made the decision to
write-down approximately $111 million to its trade receivables and accrued
contract receivables relating to its enterprise business. Moreover, the
Company announced a “major restructuring” of its business. On this news,
shares of Velti declined $0.66 per share, more than 66%, to close on August
21, 2013, at $0.34 per share, on heavy trading volume.

If you are a member of the Class described above you may move the Court no
later than September 30, 2013 to serve as lead plaintiff; however, you must
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.

To learn more about this action or if you have any questions concerning this
Notice or your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at
(888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg
LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212)
682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

Contact:

Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg
888-773-9224
or
Glancy Binkow & Goldberg LLP, New York, NY
Gregory Linkh
212-682-5340
shareholders@glancylaw.com
www.glancylaw.com
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