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 an investigation into potential violations of federal securities laws by certain officers and directors of Inteliquent, Inc. (“Inteliquent” or “Company”) (NasdaqGS: IQNT) during the period of May 7, 2012 to August 7, 2013 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at email@example.com. There is no cost or fee to you.
In a recently filed federal class action complaint, Inteliquent and certain of its officers and directors were charged with violating provisions of the Securities Exchange Act of 1934. Among other things, the complaint alleges that the defendants misrepresented or failed to disclose that: (a) the Company misstated the impairment of goodwill, intangibles and long-lived assets; (b) the Company practiced improper financial forecasting; (c) the Company lacked adequate internal and financial controls; and (d) as a result, the Company’s statements were materially false and misleading at all relevant times.
“Recent revelations about alleged improper business practices and procedures regarding key aspects of Inteliquent business and other misleading financial statements have prompted the firms to investigate possible breaches of fiduciary duties and other violations of state law by Inteliquent officers and directors. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Inteliquent stock for all shareholders,” said shareholder rights attorney Patrick Powers.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.