LOS ANGELES--(BUSINESS WIRE)-- Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been commenced on behalf of all purchasers of the common stock of Audience, Inc. (“Audience” or the “Company”) (NASDAQ:ADNC) pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with its May 10, 2012 initial public offering. Investors who have losses of $100,000 or more are encouraged to contact the firm for information concerning a lead plaintiff position in the class action suit.
Audience provides intelligent voice and audio solutions for mobile devices worldwide. The Complaint alleges violations of federal securities laws and that the Registration Statement and Prospectus issued in connection with the Company’s initial public offering misrepresented and/or failed to disclose material adverse facts concerning the Company’s business, operations and prospects.
On September 6, 2012 the Company disclosed that Apple Inc. (“Apple”) was unlikely to use its processor intellectual property in the iPhone 5, which was expected to be launched September 21. Apple’s licensing of the Company’s processor intellectual property had accounted for 37% of Audience’s total revenue for both the three and six months ended June 30, 2012. Following this news, shares of Audience declined almost 60%.
If you purchased Audience common stock pursuant or traceable to the Company’s May 10, 2012 initial public offering and would like to learn more about these claims and your ability to become a lead plaintiff, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org or visit our website at http://www.glancylaw.com. Your ability to share in any recovery doesn’t require that you serve as a Lead Plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
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Source: Glancy Binkow & Goldberg LLP