NEW YORK, July 28, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the Central District of New York on behalf of those who purchased shares of NetSol Technologies, Inc. ("NetSol" or the "Company") (NasdaqCM: NTWK), during the period between March 10, 2011 and November 8, 2013, inclusive (the "Class Period").
The complaint charges NetSol and certain of its executives with violations of federal securities laws. Specifically, the complaint alleges that: (i) NetSol's next generation product was not expected to be completed when promised by the Company; (ii) serious interest in NetSol's next generation solution had not been expressed by a few global companies; (iii) NetSol was not experiencing a growing interest in its next generation NFS product, and the product was not ready for testing at customer sites; (iv) The Company did not expect future growth through increased revenues from both the current version and the next generation of NFS; (v) there was no reasonable basis for stating that development of the next generation of NFS would change the landscape for NetSol and increase both demand and the market; (vi) NetSol did not have a reasonable basis for stating that its target customers who were still using old systems for maintaining their lease and finance portfolios were planning to replace their legacy systems or that NetSol was in a good position to tap new business from these companies; and (vii) all internal data pointed to a continued business decline; not "growth and strength across the business" as represented by the Company.
Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of NetSol during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Edward N. Gewirtz, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. September 23, 2014 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Edward N. Gewirtz or Eitan Kimelman 212-697-6484
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