Science & Technology
Science and Technology
Science and Technology 
Fri, July 1, 2011
Thu, June 30, 2011
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Smith Micro Software, Inc.
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of Smith Micro Software, Inc. (aSmith Microa or the aCompanya) (NASDAQ:SMSI) between November 3, 2010 and May 4, 2011, inclusive (the aClass Perioda), seeking to pursue remedies under the Securities Exchange Act of 1934. The class action lawsuit was filed in the United States District Court for the Central District of California.
Smith Micro designs, develops and markets software products and services primarily for the mobile computing and communications industries worldwide. The Complaint alleges that throughout the Class Period defendants failed to disclose material adverse facts about the Companya™s business prospects and financial results. On May 4, 2011, Smith Micro issued a press release announcing its first quarter 2011 financial results, and reported a net loss of $7.8 million, or $0.22 diluted earnings per share. As a result of this news, Smith Microa™s stock declined $1.60 per share, to close at $5.66 per share on May 5, 2011, a one-day decline of 22 percent.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Smith Micro securities between November 3, 2010 and May 4, 2011, you have certain rights, and have 60 days from June 29, 2011, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll Free at 888-638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].