SAN DIEGO--(BUSINESS WIRE)--
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of federal securities laws by Comverse, Inc. (CNSI) and certain of its officers. Comverse provides telecom business enablement solutions for communication service providers.
Specifically, Johnson & Weaver’s investigation seeks to determine whether shareholders were misled by certain statements the company made regarding its business outlook and expected bookings.
On April 15, 2014, before the markets opened, Comverse reported fourth quarter and full-year revenues and earnings for 2013. The company reported a year-over-year revenue decrease to $166.5 million from $183.5 million. On the news, Comverse stock closed down 19% on April 15, 2014 at $27.52.
On June 9, 2014, Comverse announced its results for the three months ended April 30, 2014. The company reported a revenue decrease to $119.1 million from $155.8 million and a first quarter loss of $(0.72) per share compared to the loss of $(0.14) per share last year. On the news, Comverse stock has traded down over 11% in mid-morning trading to a 52 week low of $22.00.
If you are a Comverse shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) at 619-814-4471. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
- Company Legal & Law Matters
Jim Baker, 619-814-4471