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SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Velti Plc. and Certain Officers - VELT

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action 
Against Velti Plc. and Certain Officers - VELT 
NEW YORK, NY -- (Marketwired) -- 10/08/13 --  Pomerantz Grossman
Hufford Dahlstrom & Gross LLP has filed a class action lawsuit
against Velti Plc. ("Velti" or the "Company") (NASDAQ: VELT) and
certain of its officers. The class action, filed in United States
District Court, Northern District of California, and docketed under
13-cv-03954, is on behalf of a class consisting of all persons or
entities who purchased or otherwise acquired securities of Velti
between January 27, 2011 and August 20, 2013 both dates inclusive
(the "Class Period"). This class action seeks to recover damages
against the Company and certain of its officers and directors as a
result of alleged violations of the federal securities laws pursuant
to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934
and Rule 10b-5 promulgated thereunder. 
If you are a shareholder with purchased Velti securities during the
Class Period, you have until October 21, 2013 to ask the Court to
appoint you as Lead Plaintiff for the class. A copy of the Complaint
can be obtained at www.pomerantzlaw.com. To discuss this action,
contact Robert S. Willoughby at rswilloughby@pomlaw.com or
888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by
e-mail are encouraged to include their mailing address, telephone
number, and number of shares purchased. 
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, Defendants
made false and/or misleading statements, as well as failed to
disclose material adverse facts about the Company's business,
operations, and prospects. Specifically, Defendants made false and/or
misleading statements and/or failed to disclose that : (1) the
Company was overstating its revenue; (2) the Company had difficulties
collecting its receivables from certain customers; (3) the Company
lacked a reasonable basis for assuming that its receivables would be
paid by certain customers; (4) the Company lacked adequate internal
and financial controls;
 and (5) as a result of the foregoing, the
Company's statements 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 for the quarter revenue
had decreased 46.84% to $31.2 million from the same period the prior
year and that adjusted earnings per share had decreased to $-0.25 in
the quarter versus earnings per share of $-0.01 in the same period a
year ago. 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. 
The Pomerantz Firm, with offices in New York, Chicago, Florida, and
San Diego, is acknowledged as one of the premier firms in the areas
of corporate, securities, and antitrust class litigation. Founded by
the late Abraham L. Pomerantz, known as the dean of the class action
bar, the Pomerantz Firm pioneered the field of securities class
actions. Today, more than 70 years later, the Pomerantz Firm
continues in the tradition he established, fighting for the rights of
the victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com. 
CONTACT:
Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
rswilloughby@pomlaw.com 
 
 
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