A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of NII Holdings Inc (NASDAQ:NIHD) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on September 28, 2016 and NASDAQ:NIHD investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 09/15/2016 --A deadline is coming up on September 28, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of NII Holdings Inc (NASDAQ:NIHD) between February 25, 2010 and February 27, 2014.

Investors who purchased a significant amount of shares of NII Holdings Inc (NASDAQ:NIHD) between February 25, 2010 and February 27, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the NII Holdings Inc (NASDAQ:NIHD) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/nii-holdings-inc-nasdaq-nihd-investor-securities-class-action-lawsuit-03072014

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is September 28, 2016. The class action administrator for this case is A.B. Data Ltd.

The lawsuit was originally filed in the U.S. District Court for the Eastern District of Virginia against NII Holdings Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 25, 2010 and February 27, 2014. According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of NII Holdings Inc (NASDAQ:NIHD) between February 25, 2010 and February 27, 2014, including debt securities due in 2021 and paying interest at a rate of 7.625 percent per year (the "Notes") issued by NII Holdings Inc's wholly-owned subsidiary, NII Capital Corp. pursuant to offerings on or around March 25, 2011 and December 5, 2011, that NII Holdings Inc and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that defendants caused NII Holdings Inc and NII Capital Corp. securities to trade at artificially inflated prices by improperly concealing the Company's failing efforts to modernize its telecommunications network and maintain and grow its subscriber base. Additionally, the complaint alleges that NII Holdings Inc, NII Capital Corp., certain of their officers and directors, and certain of the underwriters of the Offerings violated Sections 11, 12(a)(2), and 15 of the Securities Act of 1933. More specifically, the plaintiff claims that certain Defendants made allegedly false and misleading statements and allegedly failed to disclose material adverse information in offering documents filed with the U.S. Securities and Exchange Commission in connection with the issuance of $1.45 billion of NII Capital Notes in March and December 2011.

Those who purchased shares of NII Holdings Inc 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