The Shareholders Foundation announces that a deadline is coming up on April 8, 2014 in the lawsuit filed for investors of Montage Technology Group Ltd (NASDAQ:MONT) over alleged securities laws violations.
Investors who purchased shares of Montage Technology Group Ltd (NASDAQ:MONT) have certain options and for certain investors there are strict and short deadlines running. Deadline: April 8, 2014. NASDAQ:MONT stockholders should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the Southern District of New York the plaintiff alleges on behalf of purchasers of Montage Technology Group Ltd (NASDAQ:MONT) between September 25, 2013 and February 6, 2014, that Montage Technology Group Ltd 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.
On February 6, 2014, a report was published that claimed that Montage Technology Group Ltd grossly overstated its revenue. Specifically, the report asserts Montage Technology’s largest distributor was a shell company which was used to help fabricate the Company’s financial statements.
On February 7, 2014, Montage Technology Group Ltd issued a statement in response to the report. Montage Technology Group Ltd said that the allegations and accusations in the report lack merit and contain numerous errors of fact, misleading speculation and misinterpretation of events.
Nevertheless, shares of Montage Technology Group Ltd declined to $13.66 per share on Feb. 7, 2014 and closed at $15.72 per share.
Those who purchased shares of Montage Technology Group Ltd (NASDAQ:MONT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego