|By Marketwired .||
|January 5, 2014 09:13 PM EST||
NEW YORK, NY -- (Marketwired) -- 01/05/14 -- The Rosen Law Firm, P.A. reminds investors who purchased or otherwise acquired Ixia securities during the period from April 29, 2010 through October 24, 2013, of the important January 14, 2014 lead plaintiff deadline.
To join the Ixia class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The lawsuit asserts violations of the federal securities laws against Ixia and its current and former officers and directors, for issuing false and misleading statements about the Company's financial condition. Specifically, the complaint alleges that (1) the Company improperly recognized revenues related to its warranty and software maintenance contracts; (2) The Company's Chief Executive Officer "CEO" misstated his academic credentials and employment history; (3) and the Company lacked adequate internal and financial controls. When this adverse information entered the market, the value of Ixia securities dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than January 14, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at [email protected]. You may also visit the firm's website at http://rosenlegal.com. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.