Zamansky & Associates LLC has commenced an investigation of Smart Technologies Inc. (“SMT” or the “Company”) (NASDAQ: SMT) and its lead underwriters for possible violations of federal securities laws related to the Company’s July 15, 2010 Initial Public Offering. The Company designs, develops, and sells interactive technology products and solutions worldwide, including interactive whiteboards and touch-enabled display components which have become popular in classrooms.
On November 9, 2010, after the market closed, SMT announced weaker-than-expected revenue for the 2010 second quarter. In a reaction to this news and a subsequent analyst downgrade, shares of SMT fell 31% on high trading volume. We are investigating whether the Company and its lead underwriters fairly valued the IPO, properly disclosed conflicts of interest and risks associated with the terms of the deal, and properly disclosed the Company’s prospects and outlook.
If you purchased shares of SMT in the IPO and would like to discuss this action, or if you have any questions concerning this notice or your rights as a potential class member or lead plaintiff, please contact Jake Zamansky.