Kahn Swick & Foti, LLC (“KSF”) and Former Attorney General of Louisiana, Charles C. Foti, Jr. announce the commencement of an investigation into Smart Technologies, Inc. ("SMT" or the "Company") (Nasdaq: SMT) to determine whether it has violated federal securities laws by issuing false and misleading statements to its shareholders in the wake of the Company’s July 15, 2010 IPO.
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 unusually high trading volume. We are investigating whether the Company properly disclosed in their prior statements and prospectus on-going business risks and weakening financial results.
What You May Do
If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn ( firstname.lastname@example.org), toll free 877-515-1850, after hours via cell phone 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. ( email@example.com), toll free at 877-694-9510, or after hours via cell phone 330-860-4092. KSF also encourages anyone with information regarding SMT’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.About Kahn Swick & Foti, LLC KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. Recent cases include In re Virgin Mobile USA IPO Litigation, 2:07-cv-05619-SDW-MCA ( D. N.J.), Co-Lead Counsel, $19.5 Million Settlement Preliminarily Approved ; In re BigBand Networks, Inc Securities Litigation , 3:07-CV-05101-SBA (C.D. Cal.), Co-Lead Counsel , $11 million settlement ; In re U.S. Auto Parts Networks, Inc. Securities Litigation , 2:07-cv-02030-GW-JC (C.D. Cal.), Lead Counsel, $10 million settlement. KSF is also federally court-appointed Co-Lead Counsel in THE shareholder derivative cases against AIG and Bank of America (Merrill Lynch merger) emanating from their recent multi-billion dollar economic declines. To learn more about KSF, you may visit www.ksfcounsel.com.