An investigation for investors in shares of Ixia (NASDAQ:XXIA) over potential wrongdoing by certain officers and directors was announced and current long-term NASDAQ:XXIA stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 04/30/2013 -- An investigation on behalf of investors in shares of Ixia (NASDAQ:XXIA) was announced concerning whether certain Ixia officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long term stockholders of 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 concerns, among other things, whether certain Ixia officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.
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.
Then, on April 3, 2013, Ixia announced that it identified an additional error in its revenue recognition practices, requiring Ixia to restate its financial results for the 2010 and 2011 fiscal years and each fiscal quarter ended March 31, 2011 through September 30, 2012.
Shares of Ixia (NASDAQ:XXIA) declined from over $22 in early March to as low as $15.475 per share on April 24, 2013.
On April 29, 2013, NASDAQ:IXIA shares closed at $16.15 per share.
Those who purchased shares of Ixia (NASDAQ:XXIA), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego