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Investor Alert: Lawsuit against NetSol Technologies Inc. (NASDAQ:NTWK) alleges False and Misleading Statements

The Shareholders Foundation announces that an investor, who purchased shares of NetSol Technologies Inc. (NASDAQ:NTWK), filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by NetSol Technologies Inc. in connection with certain allegedly false and misleading statements made between March 10, 2011 and November 8, 2013.

Investors who purchased shares NetSol Technologies Inc. (NASDAQ:NTWK) have certain options and for certain investors are short and strict deadlines running. Deadline: September 23, 2014. NASDAQ:NTWK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of NetSol Technologies Inc. (NASDAQ:NTWK) common shares between March 10, 2011 and November 8, 2013, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that alleges that between March 10, 2011 and November 8, 2013Defendants issued allegedly materially false and/or misleading statements because NetSol Technologies Inc’s next generation product was not expected to be completed when promised by the Company, because serious interest in NetSol Technologies Inc.’s next generation solution had not been expressed by a few global companies, because NetSol Technologies Inc. was not experiencing a growing interest in its next generation NFS product, and the product was not ready for testing at customer sites, because NetSol Technologies Inc. did not expect future growth through increased revenues from both the current version and the next generation of NFS, because there was no reasonable basis for stating that development of the next generation of NFS would change the landscape for NetSol Technologies Inc. and increase both demand and the market, because NetSol Technologies Inc. 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 Technologies Inc. was in a good position to tap new business from these companies, and because all internal data pointed to a continued business decline; not “growth and strength across the business” as represented by NetSol Technologies Inc.

On Oct. 2, 2013, a report was published that questioned the accuracy of the Company’s financial disclosures. Specifically, the article asserts NetSol Technologies’ earnings are illusory as a result of misleading accounting treatments. In addition, the article claimed that NetSol Technologies’ purportedly independent auditor may have connections to NetSol Technologies’ CEO. On Oct. 3, 2013, NetSol Technologies, Inc. issued a statement in response to the article. Shares of NetSol Technologies declined from $10.44 per share on Oct. 2, 2013, to $8.11 per share on Oct. 3, 2013.

Then on November 8, 2013, NetSol Technologies Inc. reported its Fiscal 2014 First Quarter Results. NASDAQ:NTWK shares declined from $7.60 per share on November 7, 2013, to $5.11 per share on November 12, 2013.

On August 11, 2014, NASDAQ:NTWK shares closed at $3.64 per share.

Those who purchased shares of NetSol Technologies Inc. (NASDAQ:NTWK) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

John:
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