September 26, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Inteliquent Inc (NASDAQ:IQNT) shares over potential securities laws violations by Inteliquent Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Inteliquent Inc (NASDAQ:IQNT) concerning whether a series of statements by Inteliquent Inc (NASDAQ:IQNT regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Inteliquent Inc reported that its annual Total Revenue rose from $220.51 million in 2014 to$248.62 million in 2015 and that its Net Income declined from $38.52 million in 2014 to $38.13 million in 2015.

On August 2, 2016, Inteliquent Inc filed a Current Report with the U.S. Securities and Exchange Commission reporting its second quarter 2016 results. Inteliquent Inc missed its profit expectations and lowered revenue guidance to the range of $360 million to $370 million, down from previous guidance in the range of $370 million to $390 million, and lowered its EBITDA forecast to the range of $80 million to $85 million, down from a previous forecast of $82 million - $92 million.

On September 19, 2016, Inteliquent Inc announced the resignation of the Company's Chief Financial Officer, effective September 23, 2016, citing his pursuit of 'another career opportunity at a software company.'


Shares of Inteliquent Inc (NASDAQ:IQNT) declined on September 20, 2016 to as low as $14.90 per share.