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Case Status:    DISMISSED    
On or around 01/07/2014 (Court's order of dismissal)

Filing Date: August 09, 2013

According to the law firm press release, Inteliquent provides tandem interconnection services. The Company provides its services to carriers and service providers, including wireless, wireline, cable telephony and Voice over Internet Protocol companies.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company overstated the impairment of goodwill, intangibles and long-lived assets; (2) the Company had improper financial forecasting practices; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

On August 8, 2013, the Company disclosed that, during the second quarter of 2013, "the Company began an internal investigation of whether such impairment charge was overstated", as well as into the Company's forecasting practices during the fourth quarter of 2012 and the first quarter of 2013. On this news, Inteliquent securities declined $1.72 per share or over 21%, to close at $6.29 per share on August 8, 2013.

On January 6, 2014, the Lead Plaintiff filed a Notice voluntarily dismissing this action.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: IQNT
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Illinois
DOCKET #: 13-CV-05701
JUDGE: Hon. Elaine E. Bucklo
DATE FILED: 08/09/2013
CLASS PERIOD START: 05/07/2012
CLASS PERIOD END: 08/07/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date