Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Velti
LOS ANGELES -- September 27, 2013
The Law Offices of Todd M. Garber announces that a class action lawsuit has
been filed in the United States District Court for the Northern District of
California on behalf of a class (the “Class”) comprising all purchasers of the
securities of Velti plc (“Velti” or the “Company”) (NASDAQ:VELT) between
January 27, 2011 and August 20, 2013, inclusive (the “Class Period”). 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 Velti and certain of
the Company’s executive officers made false and/or misleading statements and
failed to disclose material adverse facts about Velti's financial performance.
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.
If you are a member of the above-described Class, you may move the Court no
later than October 21, 2013 to serve as lead plaintiff; however, you must meet
certain legal requirements. To be a member of the Class, you may retain
counsel of your choice or take no action and remain an absent member of the
Class. If you have information or would like to learn more about these claims,
or if you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Todd M. Garber,
Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or
by email to email@example.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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