Science & Technology
Tue, September 11, 2012
NEW YORK--([ BUSINESS WIRE ])--The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against Audience, Inc. (NASDAQ: ADNC) resulting from allegations that the Company Initial Public Offering ("IPO") documents failed to disclose that Apple would not use its technology in the iPhone 5.
"Audience now believes that it is unlikely that [Apple] will enable Audience's processor IP in its next generation phone."
On May 10, 2012, Audience conducted its IPO. Audience stated that it had licensed semiconductor IP to Apple for its latest generation of mobile phones.
On September 6, 2012, Audience announced that "Audience now believes that it is unlikely that [Apple] will enable Audience's processor IP in its next generation phone." The iPhone 5 was expected to be launched on September 21, 2012.
On this news, Audience's shares fell over 63%, damaging investors.
The Rosen Law Firm is investigating remedies available to purchasers of Audience stock, including remedies based on Audience's failure to disclose information it then had available regarding Apple's decision not to use Audience's technology. If you purchased Audience stock, please visit the website at [ http://rosenlegal.com ] for more information. You may also contact Jonathan Horne, Esq., or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at [ jhorne@rosenlegal.com ] or [ pkim@rosenlegal.com ].
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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