San Diego, CA -- (SBWire) -- 05/20/2016 --A deadline is coming up on June 23, 2016 in the settlement reached in the lawsuit filed on behalf of investors who purchased shares of Ixia (NASDAQ: XXIA) between February 4, 2011 and April 3, 2013.
Investors who purchased a significant amount of shares of Ixia (NASDAQ: XXIA) between February 4, 2011 and April 3, 2013, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Ixia (NASDAQ: XXIA) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/ixia-nasdaq-xxia-investor-securities-class-action-lawsuit-11142013
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is June 23, 2016. The class action administrator for this case is Angeion Group.
The lawsuit was originally filed in the U.S. District Court for the Central District of California against Ixia over alleged violations of Federal Securities Laws by Ixia in connection with certain allegedly false and misleading statements made between April 29, 2010 and October 24, 2013. According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired Ixia (NASDAQ: XXIA) between April 29, 2010 and October 24, 2013, that Ixia and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Ixia improperly recognized revenues related to its warranty and software maintenance contracts, that Ixia's Chief Executive Officer "CEO" misstated his academic credentials and employment history, that Ixia lacked adequate internal and financial controls, and that as a result of the foregoing, Ixia's statements were materially false and misleading at all relevant times.
Those who purchased shares of Ixia have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Deadline Upcoming in the Settlement of the Investor Lawsuit Against Ixia (NASDAQ: XXIA)
A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Ixia (NASDAQ: XXIA) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on June 23, 2016 and NASDAQ: XXIA investors should contact the Shareholders Foundation.