An investigation on behalf of investors in MIND C.T.I. Ltd. (Public, NASDAQ:MNDO) over possible violations of federal securities laws for, among other things, breaches of fiduciary duty on the part of the officers and directors of MIND C.T.I., Ltd. (Nasdaq:MNDO) was announced.

According to the investigation by a law firm the investigation focuses on whether the officers and directors violated the federal securities laws by issuing a series of materially false and misleading statements to the market which statements had the effect of artificially inflating the market price of MIND C.T.I. Ltd.s securities (NASDAQ:MNDO). MIND C.T.I. Ltd, located in Yoqneam, Israel, is engaged in developing, manufacturing and marketing billing and customer care software for communication providers, including wireline and wireless, voice over Internet protocol (VoIP), broadband IP network operators, Worldwide Interoperability for Microwave Access, Inc. (WiMAX) operators, cable operators, third generation (3G) operators and mobile virtual network operators (MVNOs).MIND C.T.I. LTD reported in 2007 Total Revenue of $18.45million and in 2008 Total Revenue of $19.47million. Shares of MIND C.T.I. Ltd. (NASDAQ:MNDO) traded recently at $1.07 per share, down from a 52weekHigh of $1.25 per share and almost $3 per share in 2007.