LOS ANGELES--()--The Law Offices of Todd M. Garber announces that investors of Audience, Inc. (“Audience” or the “Company”) (NASDAQ:ADNC) are encouraged to contact the firm for information concerning a lead plaintiff position in the shareholder class action lawsuit filed in the Superior Court of California, County of Santa Clara.
The lawsuit alleges violations of the Securities Act of 1933 and was filed on behalf of a class (the “Class”) comprising all persons or entities who purchased the common stock of Audience, Inc. (“Audience” or the “Company”) (NASDAQ:ADNC) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with its May 10, 2012 initial public offering. Investors who suffered losses of $150,000 or more as a result of purchasing Audience common stock are encouraged to contact The Law Offices of Todd M. Garber for information concerning a lead plaintiff position.
Audience provides intelligent voice and audio solutions for mobile devices worldwide. On September 6, 2012 the Company disclosed that Apple Inc. (“Apple”) was unlikely to use its processor intellectual property in the iPhone 5, which was expected to be launched September 21. Apple’s licensing of the Company’s processor intellectual property had accounted for 37% of Audience’s total revenue for both the three and six months ended June 30, 2012. Following this news, shares of Audience declined almost 60%.
If you are a member of the above-described Class, you may move the Court to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to email@example.com.
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