NEW YORK, Oct. 7, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased Microsoft Corporation ("Microsoft" or the "Company") (Nasdaq:MSFT) securities between April 18, 2013 and July 18, 2013.
For more information, click here: http://zlk.9nl.com/microsoft-msft/.
The complaint alleges that defendants failed to disclose the following during the Class Period: (a) that the tablet known as Surface RT was experiencing poor customer demand and lackluster sales; (b) that Surface RT inventory experienced a material decline in value during the quarter ended March 31, 2013; and (c) that the Company accumulated an excess of overvalued Surface RT inventory that quarter.
On July 18, 2013, Microsoft disclosed that its fiscal 2013 fourth quarter ended June 30, 2013 had been adversely impacted by a $900 million inventory charge related to Surface RT inventory adjustments. Upon this news, shares of Microsoft fell from a close of $35.44 per share on July 18, 2013, to a close of $31.40 per share the following day.
If you suffered a loss in Microsoft you have until October 11, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/microsoft-msft/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP