A technology company recently received a class action lawsuit, after shareholders alerted a law firm of potential securities law violations.
Law office Bronstein, Gewirtz and Grossman, LLC, filed a lawsuit against Montage Technology Group Limited in the U.S. District Court for the Southern District of New York. This legal claim includes all shareholders who purchased stock during the class period between Sept. 25, 2013, and Feb. 6, 2014.
The allegations in the lawsuit surround the executives of Montage Technology Group of violating federal securities laws. This is because the company issued statements that may have been either false or misleading related to the company's financial performance, especially including earnings and other revenue.
The Gravity Research Group noted on Feb. 6, 2014, that Montage Technology Group has a shell company acting as its most significant distributor, which aided in the fabrication of its financial performance. Additionally, the company's most notable customer is related and not named. When this surfaced, the company's stock dropped.
It is possible to become lead plaintiff in the case, and in order to do this, it is important to speak with the court by April 8, 2014, and file the necessary paperwork. This position is not required in order to collect in a potential recovery.
If shareholders have questions about the lawsuit itself, the class period or any other related issues, it is positive to speak with the law firm to learn more. Contacting Peretz Bronstein or Eitan Kimelman is best, and they can be reached by email or telephone. Those who decide to reach them by email should leave their telephone number and mailing address.
Investigation also begins
Another law office is investigating claims against the company to determine if laws were violated, which also may become a securities class action claim.
Law firm Block and Leviton, LLP, noted that it is looking into allegations that Montage Technology Group violated the Securities Exchange Act of 1934, as well as other related federal securities laws. This is because the company may have misled shareholders for many of the aforementioned reasons.
It is possible for shareholders who acquired interests in the company before Feb. 6, 2014, to speak with the law firm to learn more about the investigation and the legal rights of those who own stock. Contacting Joel Fleming is best, and he can be reached by telephone or email.