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Robbins Umeda LLP Announces an Investigation of Smith Micro Software, Inc.

^{Published on 2011-07-02 06:50:47 - Market Wire}
 

SAN DIEGO--([ BUSINESS WIRE ])--Robbins Umeda LLP, a [ shareholder rights litigation ] firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Smith Micro Software, Inc. (NASDAQ: SMSI). Smith Micro designs, develops, and markets software products for the mobile computing and communications industry. The company's core product, QuickLink Mobile, is used in PCs and mobile devices. The company was founded in 1982, and is headquartered in Aliso Viejo, California.

If you own stock in Smith Micro and would like more information about your [ shareholder rights ], please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the [ shareholder information form ] on our website.

Robbins Umeda LLP's investigation focuses on whether the directors and officers of Smith Micro breached their fiduciary duties to shareholders by causing or permitting the company to issue false and/or misleading statements regarding the company's business and financial results. In particular, we are examining whether the officers and directors caused Smith Micro to falsely represent the company's ability to transition its business to 4G devices and the nature of demand for several of the company's products. On February 8, 2011, Smith Micro announced that it was suspending its revenue guidance for 2011, and that the company was revising its revenue projections for the first quarter to be in the range of $15 to $20 million. On this news, the company's stock price lost nearly 35% of its value. On May 4, 2011, the company's stock price fell an additional 22%, after it issued a press release disclosing first quarter revenue losses of $7.5 million and a diluted EPS of $0.22. The same press release also acknowledged that the company had no customers for some of its major consumer products, including QuickLink Mobile.

Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career [ shareholder rights attorneys ]. For more information, please go to [ http://www.robbinsumeda.com ]

Press release link: [ http://www.robbinsumeda.com/shareholders-rights-blog/smith-micro-software-inc/ ]

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