|By Business Wire||
|August 19, 2014 10:32 AM EDT||
Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of NetSol Technologies, Inc. (“NetSol” or the “Company”) (NASDAQ:NTWK). The investigation concerns possible violations of federal securities laws and focuses on the Company’s business and financial prospects.
NetSol designs, develops, markets and exports software products primarily to the automobile finance and leasing, banking, healthcare and financial services industries worldwide. The investigation is related to allegations that the Company’s statements misrepresented its business and financial prospects, for the following reasons:
- NetSol's next generation product was not expected to be completed when promised by the Company.
- Relevant potential customers had not been expressed interest in the next generation solution.
- NetSol did not expect future growth through increased revenues from both the current version and the next generation of its NetSol Financial Suite and did not have a reasonable basis for stating that its target customers were planning to replace their legacy systems, or that NetSol was positioned to gain new business from these companies.
If you purchased NetSol shares between November 12, 2009 and November 8, 2013, 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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