Company News »

INVESTOR ALERT: Class Action Lawsuit Against NetSol Technologies, Inc. Filed by Glancy Binkow & Goldberg LLP

Business Wire
Share on StockTwits
Published on

Glancy Binkow & Goldberg LLP representing investors of NetSol Technologies, Inc. (“NetSol” or the “Company”) (NASDAQ:NTWK) , has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising purchasers of NetSol securities between November 12, 2009 and November 8, 2013, inclusive (the “Class Period”).

Please contact Lesley Portnoy, Esquire, at (888) 773-9224 or (310) 201-9150, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

NetSol designs, develops, markets and exports software products primarily to the automobile finance and leasing, banking, healthcare and financial services industries worldwide. The Complaint alleges that throughout the Class Period, defendants issued materially false and/or misleading statements or failed to disclose material facts, including that: (1) NetSol’s next generation product was not expected to be completed when promised by the Company; (2) serious interest in the next generation solution had not been expressed by relevant potential customers, and the product was not ready for testing at customer sites; (3) NetSol did not expect future growth through increased revenues from both the current version and the next generation of its NetSol Financial Suite; (4) NetSol did not have a reasonable basis for stating that its target customers, who were still using old systems, were planning to replace their legacy systems or that NetSol was in a good position to gain new business from these companies; and (5) all internal data pointed to a continued business decline – not “growth and strength across the business” – as represented by the Company.

If you are a member of the Class described above, you may move the Court no later than September 23, 2014, to serve as lead plaintiff, if you 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 wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by toll-free telephone at (888) 773-9224 or by telephone at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Share on StockTwits


Iron FX 1.11156/1.11128 2.8
XM Markets 1.09948/1.09928 2
FxPro 1.10184/1.10171 1.3
FXCM 1.13943/1.13912 3.1