SAN DIEGO, Feb. 19, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Montage Technology Group Ltd (MONT) common stock over alleged violations of Federal Securities Laws by Montage Technology Group Ltd in connection with certain allegedly false and misleading statements made between September 26, 2013 and February 6, 2014.
If you purchased shares of Montage Technology Group Ltd (MONT) between September 26, 2013 and February 6, 2014, and / or purchased shares of Montage Technology Group Ltd in the stock offering in January 2014 at a price of $21 per share, you have certain options and for certain investors are short and strict deadlines running. Deadline: April 8, 2014. Montage Technology Group Ltd investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that between September 26, 2013 and February 6, 2014 defendants issued allegedly materially false and misleading statements regarding Montage Technology Group's operations and business and its financial results and that as a result of defendants' statements, Montage Technology Group's securities traded at artificially inflated prices between September 26, 2013 and February 6, 2014, with its stock price reaching a high of $25.63 per share on January 17, 2014.
Then 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.
Shares of Montage Technology Group Ltd declined from as high as $25.63 per share in January 2013 to as low as $13.52 per share on Feb. 7, 2014.
Plaintiff seeks to recover damages on behalf of all purchasers of Montage Technology Group Ltd (MONT) publicly traded securities between September 26, 2013 and February 6, 2014.
Those who purchased shares of Montage Technology Group Ltd have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.