NEW YORK, Aug. 5, 2014 /PRNewswire/ -- Harwood Feffer LLP
(www.hfesq.com) is investigating potential claims against the board
of directors of NetSol Technologies, Inc. ("NetSol" or the
"Company") (NASDAQ: NTWK), concerning whether the board has
breached its fiduciary duties to shareholders.
During the second half of 2013, NetSol projected a good
financial outlook and strong growth potential. Then, on
November 8, 2013, NetSol announced
its financial results for the quarter ended September 30, 2013. The Company reported
increased expenses, decreased earnings, and a poor financial
outlook. On this news, shares of NetSol dropped approximately
30%.
Media reports at the time questioned the accuracy of the
Company's financial disclosures. According to some
commentators, the Company employed unorthodox accounting for its
research and development expenses and failed to disclose that it
has problems collecting accounts receivable.
Our investigation concerns whether the Company board of
directors has breached its fiduciary duties to shareholders,
grossly mismanaged the Company, and/or committed abuses of control
in connection with the foregoing.
If you own NetSol shares and wish to discuss this matter with
us, or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212) 935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the firm.
Attorney Advertising. © 2014 Harwood Feffer LLP. The law firm
responsible for this advertisement is Harwood Feffer LLP
(www.hfesq.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter.
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SOURCE Harwood Feffer LLP