An investigation on behalf of current long term investors in Comverse Inc (NASDAQ:CNSI) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:CNSI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 09/16/2014 -- An investigation on behalf of current long-term investors in shares of Comverse Inc (NASDAQ:CNSI) concerning potential breaches of fiduciary duties by certain directors and officers of Comverse Inc announced.
Investors who purchased shares of Comverse Inc (NASDAQ:CNSI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Comverse Inc officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On April 15, 2014 Comverse reported fourth quarter and full-year revenues and earnings for 2013. Comverse Inc reported that its while its Total Revenue declined from $677.76 million for the 12 months period that ended on Jan. 31, 2013 to $652.50 million for the 12 months period that ended on Jan. 31, 2014, that its Net Loss of $20.29 million for the 12 months period that ended on Jan. 31, 2013 turned into a Net Income of $18.69 million for the 12 months period that ended on Jan. 31, 2014.
On June 9, 2014, Comverse Inc announced its results for the three months ended April 30, 2014. Among other things, Comverse Inc reported that its first quarter revenue declined from $155.81 million in 2013 to $119.13 million in 2014 and that its first quarter Net Loss increased from $3.14 million in 2013 to $16.13 million in 2014.
On September 9, 2014, Comverse Inc announced iots fiscal 2014 second quarter financial results. Among other things, Comverse Inc reported that its second quarter Total Revenue declined from $169.73 million in 2013 to $115.32 million in 2014.
Shares of Comverse Inc declined from $39.50 per share in January 2014 to as low as $21.02 per share on September 9, 2014.
On September 12, 2014, NASDAQ:CNSI shares closed at $2.42 per share.
Those who purchased shares of Comverse Inc (NASDAQ:CNSI), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com