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magicJack VocalTec Ltd (NASDAQ: CALL) Investor Securities Class Action Lawsuit 03/11/2016

  • You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of January 17, 2018 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
magicJack VocalTec Ltd
Security
NASDAQ: CALL

Case Name
magicJack Shareholder Class Action Lawsuit 03/11/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Settlement Notice
magicjack_vocaltec_ltd_settlement_notice_9_2017.pdf
Settlement Proof
magicjack_vocaltec_ltd_settlement_proof_9_2017.pdf
Filed Complaint
magicjack_vocaltec_ltd_original_filing_edited_3_2016.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$3,650,000.00
Deadline to Participate in Settlement

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Summary

September 29, 2017 - The court preliminarily approved the settlement.

September 28, 2017 - A stipulation of settlement was filed by the parties.

August 19, 2016 - An amended complaint was filed.

March 11, 2016 - An investor, who SOLD shares of magicJack VocalTec Ltd (NASDAQ: CALL), filed a lawsuit over alleged violations of Federal Securities Laws by magicJack VocalTec Ltd in connection with certain allegedly false and misleading statements made between November 12, 2013 and March 12, 2014.

According to the complaint the plaintiff alleges on behalf of Sellers of magicJack VocalTec Ltd (NASDAQ: CALL) common shares between November 12, 2013 and March 12, 2014, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between November 12, 2013 and March 12, 2014 magicJack VocalTec Ltd misrepresented the Company’s expected financial performance in a scheme to artificially deflate the price of magicJack VocalTec Ltd’s securities. The plaintiff claims that due to the misrepresentations made by defendants, investors sold or otherwise divested between November 12, 2013 and March 12, 2014 magicJack VocalTec Ltd’s common stock at artificially deflated prices, thus incurring losses and when the Company’s alleged misrepresentations and fraudulent conduct became apparent, the price of magicJack VocalTec Ltd’s shares dramatically increased, as the artificial depression was removed from the share price. magicJack VocalTec Ltd reported that its annual Total Revenue declined from $143.49 million in 2013 to $116.32 million in 2014 and that its Net Income declined from $70.31 million in 2013 to $3.79 million in 2014.

Shares of magicJack VocalTec Ltd (NASDAQ: CALL) declined from $11.78 per share in November 2015 to as low as $6.88 per share on February 9, 2016.

magicjack_vocaltec_ltd_original_filing_edited_3_2016.pdf
Date Settled