Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against Audience, Inc. (“Audience”) (NasdaqGS: ADNC) and its officers and Board of Directors for potential breaches of fiduciary duties and violations of federal securities laws. Specifically, shares of Audience plunged by approximately 60% after the company announced that Apple was unlikely to use its processor technology in the iPhone 5.
If you are an affected investor who purchased shares between May 10, 2012 and September 6, 2012 (“Class Period”) and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
Audience is a leading global provider of advance voice and audio processors for mobile products. In connection with its May 10, 2012 initial public offering, Audience issued its registration statement and prospectus indicating that its processor technology could be used by Apple in its new iPhone 5. However, on September 6, 2012, Audience announced for the first time that it was unlikely that Apple would use its technology causing the shares to drop dramatically. According to shareholder rights attorney Willie Briscoe, “The investigation into Audience relates to whether it made false and/or misleading statements or failed to disclose material information about its business operations and financial prospects. Our proposed lawsuit will seek to preserve Audience stockholders’ rights and hold Audience accountable for its actions.”
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.