San Diego, CA -- (SBWIRE) -- 04/08/2013 -- A recent substantial stock price drop prompted an investigation on behalf of investors of Ixia (NASDAQ:XXIA) shares over potential securities laws violations by Ixia and certain of its directors and officers in connection certain financial statements.

Investors who are current long-term stockholders in shares of Ixia (NASDAQ:XXIA), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Ixia (NASDAQ:XXIA) concerning whether a series of statements by Ixia regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Ixia reported that its annual Total Revenue rose from $177.99 million in 2009 to $411.66 million in 2012 and that its Net Loss of $44.20 million in 2009 turned into a Net Income of $47.23 million in 2012.

Shares of Ixia (NASDAQ:XXIA) grew from as low as $4.36 per share on March 6, 2009 to as high as $22.24 per share on March 6, 2013.

Then on March 19, 2013, Ixia filed with the Securities and Exchange Commission (“SEC”) a Form indicating that Ixia’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 could not be timely filed.

As indicated in the Form with the SEC, Ixia decided that it needed to correct an error related to the manner in which it recognizes revenues for its warranty and software maintenance contracts and therefore required additional time to evaluate the impact of the correction on its financial results for the year ended December 31, 2012 and for the prior reporting periods that will be included in the Form 10-K and its internal control over financial reporting.

Ixia said that based on management’s recommendation and upon a review and analysis of management’s assessment, the Audit Committee concurred with management’s recommendation and concluded that Ixia should restate its consolidated financial statements for the fiscal years ended December 31, 2011 and 2010, the fiscal quarters ended March 31, 2011, June 30, 2011, September 30, 2011 and December 31, 2011, and the fiscal quarters ended March 31, 2012, June 30, 2012 and September 30, 2012.

Shares of Ixia (NASDAQ:XXIA) declined from over $22 in early March to as low as $17.27 per share on April 5, 2013.

Those who purchased shares of Ixia (NASDAQ:XXIA), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com