Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In NetSol Technologies, Inc. (NTWK) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in NetSol Technologies, Inc. (“NetSol” or the “Company”) (NasdaqCM: NTWK) of the September 23, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against NetSol and certain.
A complaint has been filed in the United States District Court for the Central District of California on behalf of all persons who purchased or acquired NetSol securities between November 12, 2009 and November 8, 2013, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company failed to disclose that NetSol's next generation product was not expected to be completed when promised by the Company and had not commanded serious interest from NetSol's customers.
On November 8, 2013, NetSol issued a press release announcing quarterly results for the period ending September 30, 2013. The Company disclosed a material increase in expenses and a material decrease in earnings and revenue.
Following this news, the price of NetSol stock declined by $2.25, or roughly 30%, to close at $5.23 on November 8, 2013.
If you invested in NetSol stock or options between November 12, 2009 and November 8, 2013 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding NetSol’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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