Investors of NetSol Technologies, Inc. With Losses of $100,000 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 Central District of California on behalf of purchasers of the securities of NetSol Technologies, Inc. (“NetSol” or the “Company”) (NASDAQ:NTWK) between November 12, 2009 and November 8, 2013, inclusive (the “Class Period”). Investors who have losses of $100,000 or more are encouraged to contact the firm for more information.
NetSol designs, develops, markets and exports software products to the automobile finance and leasing, banking, healthcare and financial services industries worldwide. The Complaint alleges that throughout the Class Period, defendants issued materially false and/or misleading statements or failed to disclose material facts, including that:
- NetSol's next generation product was not expected to be completed when promised by the Company.
- Relevant potential customers had not expressed interest in the next generation solution.
- NetSol did not expect future growth through increased revenues from both the current version and the next generation of its NetSol Financial Suite, and did not have a reasonable basis for stating that its target customers were planning to replace their legacy systems, or that NetSol was positioned to gain new business from these companies.
If you are a member of the Class described above, you have until September 23, 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 wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, 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.