Investors of NeuStar, Inc. With Losses of $250,000 or More Are Encouraged to Contact Law Offices of Howard G. Smith
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Virginia on behalf of purchasers of the common stock of NeuStar, Inc. (“NeuStar” or the “Company”) (NYSE:NSR) between April 19, 2013 and June 6, 2014, inclusive (the “Class Period”). Investors who have losses of $250,000 or more are encouraged to contact the firm for more information.
NeuStar provides communications clearinghouse services to telecommunication companies and Internet service providers, pursuant to private commercial and government contracts. The Complaint alleges that the Company misrepresented its ability to serve as Local Number Portability Administrator for the U.S. and as manager of the world's largest number portability registry, which enables routing of phone calls and text messages, and misrepresented the likelihood of winning new contracts with North American Portability Management LLC (NAPM), an industry group that represents all telecommunications service providers in the United States.
On June 6, 2014, the inadvertent disclosure of a confidential email to the Federal Communications Commission revealed that NeuStar was not expected to win the NAPM contracts. The email indicated that the North American Numbering Council, which is responsible for making a recommendation to the FCC regarding who should win the NAPM contracts, recommended that the FCC award the contract to a different company. Following this disclosure, the price of NeuStar stock dropped more than 8 percent, from $26.67 per share on Friday, June 6, 2014, to close at $24.43 per share on Monday June 9, 2014.
If you are a member of the Class described above, you have until September 15, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
If you suffered losses of $250,000 or more and wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.