|By Business Wire||
|July 17, 2014 07:32 PM EDT||
Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of NeuStar, Inc. (“NeuStar” or the “Company”) (NYSE:NSR). The investigation concerns possible violations of federal securities laws and focuses on certain statements issued by the Company between April 19, 2013 and June 6, 2014, concerning NeuStar’s business and financial prospects.
NeuStar provides communications clearinghouse services to telecommunication companies and Internet service providers, pursuant to private commercial and government contracts. The investigation is related to allegations that the Company: (1) misrepresented its ability to serve as Local Number Portability Administrator for the U.S. and as manager of the world's largest number portability registry, which enables telecom carriers to route phone calls and text messages and allows customers to transfer phone numbers among different carriers; and (2) misrepresented the likelihood of winning new contracts with North American Portability Management LLC (NAPM), an industry group that represents all telecommunications service providers in the United States.
On June 6, 2014, the inadvertent disclosure of a confidential email to the Federal Communications Commission revealed that NeuStar was not expected to win the NAPM contracts. The email indicated that the North American Numbering Council, which is responsible for making a recommendation to the FCC regarding who should win the NAPM contracts, recommended that the FCC award the contract to a different Company. Following this disclosure, the price of NeuStar stock dropped more than 8 percent, from $26.67 per share on Friday, June 6, 2014, to close at $24.43 per share on Monday June 9, 2014.
If you purchased NeuStar shares between April 19, 2013 and June 6, 2014, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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