Law Office of Brodsky & Smith, LLC announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all those investors who purchased or otherwise acquired shares of Inteliquent, Inc. (Nasdaq: IQNT) (“Inteliquent” or the “Company”) between May 7, 2012 and August 7, 2013, inclusive (the “Class Period”).
Click here to learn more about the investigation http://brodsky-smith.com/640-iqnt-inteliquent-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
The Complaint alleges that the defendants made materially false and misleading statements, as well as failed to disclose material adverse facts including that the Company overstated the impairment of assets, had improper financial forecasting practices, and lacked adequate financial controls. In its Annual report for the year ended December 31, 2012, Inteliquent reported a $75.3 million impairment charge. On August 8, 2013, the Company disclosed that during the second quarter of 2013, that the Company began an internal investigation of whether an impairment charge was overstated, as well as into the Company’s forecasting practices during the fourth quarter of 2012 and the first quarter of 2013. Inteliquent securities then declined $1.72 per share, more than 21%, closing at $6.29 on August 8, 2013.
If you are a member of the class described above, you may, not later than October 8, 2013, move the Court to serve as a lead plaintiff of the class, if you so choose. If you purchased shares of Inteliquent stock during the Class Period and wish to discuss this action, you may e-mail or call the Law Office of Brodsky & Smith, LLC who will, without obligation or cost to you, answer your questions. Please contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/640-iqnt-inteliquent-inc.html, by e-mail at firstname.lastname@example.org, or calling toll free 877-LEGAL-90.Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.