A lawsuit was filed on behalf of investors in magicJack VocalTec Ltd (NASDAQ:CALL) shares over alleged securities laws violations and NASDAQ:CALL investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/04/2016 -- A shareholder who SOLD shares of magicJack VocalTec Ltd (NASDAQ:CALL) filed a lawsuit over alleged violations of Federal Securities Laws by magicJack VocalTec Ltd.
Investors who SOLD significant amounts of shares of magicJack VocalTec Ltd (NASDAQ:CALL) between November 12, 2013 and March 12, 2014 have certain options and for certain investors are short and strict deadlines running. Deadline: May 13, 2016. NASDAQ:CALL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of Sellers of magicJack VocalTec Ltd (NASDAQ:CALL) common shares between November 12, 2013 and March 12, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between November 12, 2013 and March 12, 2014 magicJack misrepresented the Company's expected financial performance in a scheme to artificially deflate the price of magicJack's securities. The plaintiff claims that due to the misrepresentations made by defendants, investors sold or otherwise divested between November 12, 2013 and March 12, 2014 magicJack's common stock at artificially deflated prices, thus incurring losses and when the Company's alleged misrepresentations and fraudulent conduct became apparent, the price of magicJack's shares dramatically increased, as the artificial depression was removed from the share price.
magicJack VocalTec Ltd reported that its annual Total Revenue declined from $143.49 million in 2013 to $116.32 million in 2014 and that its Net Income declined from $70.31 million in 2013 to $3.79 million in 2014. Shares of magicJack VocalTec Ltd (NASDAQ:CALL) declined from $11.78 per share in November 2015 to as low as $6.88 per share on February 9, 2016.
On March 31, 2016, NASDAQ:CALL shares closed at $6.56 per share.
Those who purchased shares of magicJack VocalTec Ltd (NASDAQ:CALL) 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