NEW YORK, Nov. 27, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of all persons or entities who purchased IXIA securities (Nasdaq:XXIA) between April 29, 2010 and October 24, 2013 both dates inclusive (the "Class Period"), seeking remedies under the federal securities laws.
To join the Ixia class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The lawsuit asserts violations of the federal securities laws against Ixia and its current and former officers and directors, for issuing false and misleading statements about the Company's financial condition. Specifically, the complaint alleges that (1) the Company improperly recognized revenues related to its warranty and software maintenance contracts; (2) The Company's Chief Executive Officer "CEO" misstated his academic credentials and employment history; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times. When this adverse information entered the market, the value of Ixia securities dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than January 14, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at email@example.com. You may also visit the firm's website at http://rosenlegal.com.The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 firstname.lastname@example.org email@example.com firstname.lastname@example.org www.rosenlegal.comSource: The Rosen Law Firm PA PC