NEW YORK, Aug. 14, 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 Illinois on behalf of investors who purchased Inteliquent, Inc. ("Inteliquent" or the "Company") (Nasdaq:IQNT) stock between May 7, 2012 and August 7, 2013.
For more information, click here: http://zlk.9nl.com/inteliquent-iqnt/.
The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that the Company: (a) overstated the impairment of goodwill, intangibles and long-lived assets; (b) had improper financial forecasting practices; (c) lacked adequate internal and financial controls; and (d) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times. On August 8, 2013, Inteliquent announced an internal investigation into, among other things, the Company's "financial forecasting practices during the fourth quarter of 2012 and the first quarter of 2013." The Company further announced that the investigation would determine whether the restatement of certain financial statements would be required. Upon this news, shares of Inteliquent fell more than 20%.
If you suffered a loss in Inteliquent you have until October 8, 2013to 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 (877) 363-5972, or visit http://zlk.9nl.com/inteliquent-iqnt/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, 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: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP