BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of the securities of Ixia (the “Company”) (XXIA) between April 29, 2010 and October 24, 2013, inclusive (the “Class Period”).
Ixia delivers information technology solutions including real-time monitoring, real-world testing, and rapid assessment of network and system user behavior, security vulnerabilities, capacity, application performance, and IT resiliency. The Complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the defendants misrepresented or failed to disclose that:
- The Company improperly recognized revenues related to its warranty and software maintenance contracts.
- The Company’s Chief Executive Officer misstated his academic credentials and employment history.
- The Company lacked adequate internal and financial controls.
If you are a member of the Class described above you may move the Court no later than January 14, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
- Company Legal & Law Matters
- United States District Court