San Diego, CA -- (SBWIRE) -- 05/20/2013 -- An investor in shares of Nam Tai Electronics, Inc. (NYSE:NTE) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Nam Tai Electronics, Inc. in connection with certain allegedly false and misleading statements made between August 6, 2012 and April 26, 2013.

Investors who purchased a substantial amount of shares of Nam Tai Electronics, Inc. (NYSE:NTE), between August 6, 2012 and April 26, 2013, have certain options and there are short and strict deadlines running. Deadline: July 16, 2103. NYSE:NTE investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Nam Tai Electronics, Inc. (NYSE:NTE) between August 6, 2012 and April 26, 2013, that Nam Tai Electronics, Inc and certain of its officers and directors violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff alleges that Defendants made false and/or misleading statements and/or failed to disclose that intense competition had forced Nam Tai Electronics, Inc. to lower its unit sales prices, thereby threatening its future profitability, that anticipated cancellation and fluctuation of orders by its key customers would cause it to halt capital investment into technology platforms, that due to declining margins and volatility, Nam Tai Electronics, Inc. would have to halt its best quality LCM production operations services in both its Shenzhen and Wuxi manufacturing facilities in order to minimize further losses and preserve cash, and that as a result of the foregoing, Nam Tai Electronics’ statements were materially false and misleading at all relevant times.

Nam Tai Electronics, Inc. reported that its annual Total Revenue rose from $408.14 million in 2009 to over $1.14 billion in 2012 and that its respective Net Income increased from $1.65 million to $66.92 million. Shares of Nam Tai Electronics, Inc. grew from as low as $3.15 per share in March 2009 to as high as $15.93 per share in December 2012.

On April 29, 2013, Nam Tai Electronics, Inc. announced its unaudited results for the first quarter that ended on March 31, 2013. Among other things, the Company disclosed that customer orders for its liquid crystal display modules were much lower than originally anticipated and that it was considering halting its best quality LCM production operations service in both its Shenzhen and Wuxi manufacturing facilities by the end of June 2013 in order to minimize further losses and preserve cash.

Shares of Nam Tai Electronics, Inc. declined from $12.42 per share on April 25, 2013, to $7.50 per share on April 29, 2013.

On May 17, 2013, NYSE:NTE shares closed at $8.17 per share.

Those who are current long term stockholders of shares of Nam Tai Electronics, Inc. (NYSE:NTE) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com