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 Northern District of California on behalf of investors who purchased Velti Plc ("Velti" or the "Company") (Nasdaq:VELT) stock between January 27, 2011 and August 20, 2013.
For more information, click here: http://zlk.9nl.com/velti-velt.
The complaint alleges that during the Class Period, defendants failed to disclose and/or misrepresented the following: a) the Company was having difficulty collecting certain receivables; b) certain of the Company's receivables were uncollectible and, as a result, the Company's revenues and receivables were overstated; c) the Company lacked adequate internal and financial controls; and d) as a result of the aforementioned, the Company's statements and reported financial results were materially false and misleading at all relevant times.
If you suffered a loss in Velti you have until October 21, 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/velti-velt.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, 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