Summary of Vetli (VELT) securities fraud class action lawsuit
Basic questions regarding wether Velti senior executives committed securities fraud
- When did senior executives at Velti know that a large chunk of its receivables where uncollectable?
- Did senior executives make a conscious decision to misreport to shareholders the character and collectability of these receivables?
- Did senior executives knowingly provide services to certain customers with unproven and unverified ability to pay for those services?
- What diligence did Velti senior executives require before entering into contracts with customers?
- Did senior executive continue to do business with third parties when the risk of nonpayment was obvious and real?
- What financial controls did senior executives at Velti require to properly record receivables on the company’s financial statements?
- When did senior executives first become aware that the company’s financial statements were inaccurate and grossly overvalued Velti’s revenues and balance sheet?
Velti shareholders watch as the VERT stock price systematically falls since its IPO
Velti shareholders that may qualify for participation in class action
This securities fraud class action is in its early stage, so Velti shareholders that fit the below criteria are encouraged to report their losses by using the web form on this page:
- Any shareholder that purchased share between January 27, 2011 and August 20, 2013 and suffered a loss;
- Any shareholder that purchased shares directly at Velti’s IPO.
- Any shareholder that made a series of purchases and sales in Verti stock and requires assistance in determining the amount of his or her qualified loss. (Federal securities laws generally only allow a shareholder to recover hard losses, not loss of stock appreciation.)
- Any investor that purchased options and has questions as to whether the losses in options qualify to be part of any recover.
- Any Verti employees that lost money in Verti stock, especially if those shares were purchased in a company sponsored 401K plan.