The law firm of Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Inteliquent, Inc. (NASDAQ: IQNT) (“Inteliquent” or “the Company”) related to the Company’s announcement that it would delay its second-quarter earnings call as a result of an ongoing investigation by the Board of Directors’ audit committee into a charge taken last year and its financial forecasting. If you are interested in discussing your rights as an Inteliquent shareholder, or have information relating to this investigation, please contact Finkelstein Thompson’s Washington, DC offices at (202)-337-8000 or by email at firstname.lastname@example.org.
For the year ended December 31, 2012, Inteliquent reported a $75.3 million impairment charge, and a net loss of $78.1 million. On August 8, 2013, Inteliquent announced that, “[d]uring the second quarter of 2013, the Board of Directors of the Company determined that an internal investigation of whether such impairment charge was overstated should be undertaken by the Audit Committee with the assistance of independent outside professionals” and that the same committee “with the assistance of independent outside professionals, should conduct an internal investigation of the Company’s financial forecasting practices during the fourth quarter of 2012 and the first quarter of 2013.” Following this announcement, Inteliquent’s share price plunged more than 20%.
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.
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