magicJack VocalTec Ltd (NASDAQ:CALL) Investor Files Lawsuit over Alleged Misleading Statements

A lawsuit was filed on behalf of certain investors in shares of magicJack VocalTec Ltd (NASDAQ:CALL) over alleged securities laws violations. DeadlineL March 19, 2013 and NASDAQ:CALL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

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San Diego, CA -- (SBWire) -- 01/22/2013 --An investor in shares of magicJack VocalTec Ltd (NASDAQ:CALL) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by magicJack VocalTec Ltd in connection certain allegedly false and misleading statements.

Investors who purchased shares of magicJack VocalTec Ltd (NASDAQ:CALL) between February 28, 2012 and January 8, 2013, have certain options and there are short and strict deadlines running. NASDAQ:CALL investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of magicJack VocalTec Ltd (NASDAQ:CALL) between February 28, 2012 and January 8, 2013, that magicJack VocalTec Ltd and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding magicJack VocalTec's business, operational and compliance policies

magicJack VocalTec Ltd reported that its annual Revenue declined from $119.68 million in 2010 to $110.45 million in 2011. However, magicJack VocalTec Ltd reported also that its Net Loss of $1.55 million in 2010 decreased to a Net Loss of $0.84 million. magicJack VocalTec Ltd reported that its quarterly Revenue rose from $37.59 million in the first quarter 2012 to $40.79 million in the third quarter 2012 and its respective quarterly Net Income increased from $8.20 million to $15.12 million.

Shares of magicJack VocalTec Ltd (NASDAQ:CALL) grew from as low as $$13.64 per share in June 20120 to almost $27 per share in September 2012. However, NASDAQ:CALL shares closed 2012 at $18.20 per share.

Then on January 9, 2013, a research group alleged that the tech company misrepresented facts on financial statements. The research group published a report alleging that magicJack VocalTec Ltd has been overstating its revenue and profitability in its filings with the U.S. Securities and Exchange Commission.

Shares of magicJack VocalTec Ltd (NASDAQ:CALL) declined from $17.70 per share on Jan. 8, 2013 to as low as $14.53 per share on Jan. 10, 2013.

On Jan. 18, 2013, NASDAQ:CALL shares closed at $15.21 per share, which is significantly below its current 52 week High of $28.22 per share.

Those who purchased shares of magicJack VocalTec Ltd (NASDAQ:CALL) between February 28, 2012 and January 8, 2013, have certain options and there are short and strict deadlines running. NASDAQ:CALL investors 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

Media Relations Contact

Trevor Allen
General Manager
Shareholders Foundation, Inc.
858-779-1554
http://www.ShareholdersFoundation.com

View this press release online at: http://rwire.com/198226