Levi & Korsinsky, LLP announces it has filed a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of magicJack VocalTec Ltd. (“magicJack”) (NASDAQGM: CALL) who sold their shares between November 12, 2013 and March 12, 2014.
The complaint alleges that throughout the Class Period, magicJack misrepresented the Company’s expected financial performance in a scheme to artificially deflate the price of magicJack’s securities. Due to the misrepresentations made by defendants, members of the Class sold or otherwise divested magicJack’s common stock at artificially deflated prices, thus incurring losses. When the Company’s alleged misrepresentations and fraudulent conduct became apparent, the price of magicJack’s shares dramatically increased, as the artificial depression was removed from the share price.
If you suffered a loss in magicJack you have until May 13, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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