NEW YORK, Aug. 26, 2014 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a class action has been filed in United States District Court for the Central District of California on behalf of purchasers of NetSol Technologies, Inc. securities ("NetSol" or the "Company") (Nasdaq:NTWK) between November 12, 2009 and November 8, 2013, inclusive (the "Class Period").
If you purchased NetSol during the Class Period, you may, no later than September 23, 2014 request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that the Company issued materially false and misleading statements and/or failed to disclose the true prospects and development schedule for the Company's next generation NFS product. The complaint claims that when this adverse information entered the market, the price of NetSol's securities dropped, harming investors.
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