Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class
Action Lawsuit Against Velti plc
LOS ANGELES -- October 4, 2013
The Law Offices of Todd M. Garber 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
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 that:
*The Company was having difficulties collecting certain receivables.
*Certain of the Company’s receivables were uncollectible and, as a result,
the Company’s revenues and receivables were overstated during the Class
*The Company lacked adequate internal and financial controls.
*As a result of defendants’ misrepresentations and omissions, 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 purchased Velti securities before the Class Period, and 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
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
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