SHAREHOLDER ALERT: Brower Piven Informs Investors With Substantial Losses
from Investment in Velti plc That Less Than One Month Remains to Seek
Appointment As Lead Plaintiff In Securities Class Action Lawsuit
STEVENSON, Md. -- September 24, 2013
Brower Piven, A Professional Corporation announces that a class action lawsuit
has been filed in the United States District Court for the Northern District
of California on behalf of purchasers of Velti plc (“Velti” or the “Company”)
(NasdaqGS: VELT) securities during the period between January 27, 2011 and
August 20, 2013, inclusive (the “Class Period”).
If you have suffered a net loss from investment in Velti plc securities
purchased on or after January 27, 2011, and held through the revelation of
negative information on August 20, 2013, as described below, at no cost to
you, 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 October 21, 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.
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 certain of the Company’s receivables were uncollectible and that
the Company’s revenues and receivables were overstated and that its reported
financial results were materially false and misleading. According to the
complaint, after the Company reported on August 20, 2013 its decision to
write-down approximately $111 million to its trade receivables and accrued
contract receivables relating to its enterprise business and announced a
“major restructuring” of its business, the value of Velti 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.
Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
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