San Diego, CA -- (SBWIRE) -- 01/22/2014 -- An investigation on behalf of investors, who purchased shares of Velti Plc (NASDAQ:VELT) shares in or shortly after the initial public offering (“IPO”) on January 27, 2011, was announced.
Investors who purchased shares of Velti Plc (NASDAQ:VELT) in or shortly after the IPO January 27, 2011 have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554
The investigation by a law firm concerns, among other things, whether Velti Plc and certain underwriters of the IPO violated Federal Securities Laws.
On August 20, 2013, Velti Plc announced its second quarter 2013 results. Among other things, Velti Plc said that it engaged Deloitte Financial Advisory Services to assist in evaluating the near-term and longer-term collectability of receivables on the books of its Greek and Cypriot subsidiaries and that as a result of this evaluation, Velti Plc is taking a charge in Q2 of approximately $111 million to its trade receivables and accrued contract receivables relating to its enterprise business, which primarily sold customized mobile marketing platforms to customers with operations principally within Greece and Cyprus. Velti Plc also said that it began a major restructuring.
Those who purchased shares of Velti Plc (NASDAQ:VELT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego