| Company: | NetSol Technologies, Inc. |
| Ticker Symbol: | NTWK |
| Class Period: | Mar-10-11 to Nov-8-13 |
| Date Filed: | Jul-28-14 |
| Lead Plaintiff Deadline: | Sep-26-14 |
| Court: | Central District of New York |
| Allegations: | |
The complaint charges NetSol and certain of its executives with violations of federal securities laws. Specifically, the complaint alleges that: (i) NetSol's next generation product was not expected to be completed when promised by the Company; (ii) serious interest in NetSol's next generation solution had not been expressed by a few global companies; (iii) NetSol was not experiencing a growing interest in its next generation NFS product, and the product was not ready for testing at customer sites; (iv) The Company did not expect future growth through increased revenues from both the current version and the next generation of NFS; (v) there was no reasonable basis for stating that development of the next generation of NFS would change the landscape for NetSol and increase both demand and the market; (vi) NetSol did not have a reasonable basis for stating that its target customers who were still using old systems for maintaining their lease and finance portfolios were planning to replace their legacy systems or that NetSol was in a good position to tap new business from these companies; and (vii) all internal data pointed to a continued business decline; not "growth and strength across the business" as represented by the Company.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
