NEW YORK, Nov. 18, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Ixia ("Ixia" or the "Company") (Nasdaq:XXIA) common stock between April 29, 2010 and October 24, 2013.
For more information, click here: http://zlk.9nl.com/ixia/.
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: (a) the Company improperly recognized revenue related to its warranty and software maintenance contracts; (b) the Company's CEO misstated his academic credentials and employment history; and (c) the Company lacked adequate financial and internal controls.
On April 3, 2013, Ixia announced it would restate financial statements for the fiscal years ended December 31, 2011 and 2010, and the fiscal quarters ended March 31, 2011, June 30, 2011, September 30, 2011, March 31, 2012, June 30, 2012, and September 30, 2012. Then on October 24, 2012, the Company disclosed that its CEO and President had misstated his credentials.
If you suffered a loss in Ixia you have until January 14, 2014 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/ixia/.
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