NEW YORK, Nov. 16, 2007 (PRIME NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating possible securities and other legal violations regarding today's announcement by Virgin Mobile USA, Inc. ("Virgin Mobile" or the "Company") (NYSE:VM) of financial and net subscriber news that was viewed negatively by the market, and which concerned the quarter ending September 30, 2007, a quarter which had concluded by the time of the Company's October 12, 2007 initial public offering ("IPO"). The Prospectus for the Initial Public Offering appears to have unlawfully omitted rates of net subscribers and related trends for the quarter in violation of the Securities Act of 1933. VM shares have dropped approximately 14% on greatly increased trading volume, to a price of approximately $9.15 per share.
If you purchased VM shares and have experienced a decline in their value, please contact Roy L. Jacobs. Mr. Jacobs will speak with you personally at no cost or obligation.