NEW YORK, March 14, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Virginia on behalf of investors who purchased NII Holdings, Inc. ("NII" or the "Company") (Nasdaq:NIHD) common stock between February 25, 2010 and February 27, 2014, inclusive, or who otherwise acquired NII securities, including debt securities due in 2021 and paying interest at a rate of 7.625 percent per year issued by NII's subsidiary, NII Capital Corp. ("NII Capital") pursuant to offerings on or around March 25, 2011 and December 5, 2011.
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The complaint alleges that during the Class Period, defendants made materially false and misleading statements and/or concealed material information relating to the Company's business, financial state, and future prospects. Specifically, the complaint alleges that NII and NII Capital improperly concealed the Company's failing efforts to modernize its telecommunications network and expand its subscriber base, and failed to disclose material adverse information in offering documents it filed with the SEC in connection with the issuance of NII Capital Notes in March and December of 2011.
If you suffered a loss in NII you have until May 5, 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 firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/nii-holdings-nihd.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. 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