An investigation on behalf of investors of TeleNav, Inc. (NASDAQ:TNAV), who purchased their TNAV shares in the May 2010 initial public offering (IPO) of TeleNav, Inc. or traceable to its IPO, over possible violations of Federal Securities Laws was announced.

According to the investigation by a law firm the investigation on behalf of investors in TNAV stock concerns potential violation of Federal Securities Laws by TeleNav, Inc and certain of its officers and directors by issuing false and misleading and failing to disclose material information. TeleNav, Inc., located in Sunnyvale, CA is a provider of wireless location-based services (LBS), including global positioning system (GPS) navigation, mobile resource management (MRM), asset GPS tracking (AVL) and local search. TeleNavs total revenue increased over the past four 12months-peroids from $27.72million reported on June 30, 2007, to $48.06million reported in June 30, 2008, to $110.88million reported on June 30, 2009, and $171.16million reported on June 30, 2010. TeleNav, Inc went public in May 2010, and its shares started in May 2010 at almost $10. While TNAV stayed above $8 per share for the past three months, they lost almost 50% of its May value on July 30, 2010 and recently traded at $5.09 per share. On July 29, 2010, after the market closed TeleNav disclosed on July 29, 2010, that it was currently renegotiating its contract with its largest customer, Sprint Nextel Corp.