Verisign, Inc. : Law Offices of Howard G. Smith Announces Investigation of VeriSign, Inc.
02/23/2013| 06:05am US/Eastern
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Law Offices of Howard G. Smith announces that it is investigating
potential claims against VeriSign, Inc. ("VeriSign" or the "Company")
(NASDAQ:VRSN) concerning possible violations of federal securities laws.
The investigation focuses on allegations that certain statements issued
by the Company between June 25, 2012 and October 25, 2012 were false and
misleading concerning VeriSign's business, operations and prospects.
VeriSign, Inc. provides Internet registry and infrastructure services to
various networks worldwide. The investigation is related to allegations
that the Company misrepresented and/or failed to disclose: (1)
challenges to the Company's registry pricing scheme that made it more
likely the U.S. Department of Justice and Department of Commerce would
demand price concessions from VeriSign to operate the .com and .net
networks; (2) that growth in domain name registrations was declining;
(3) that VeriSign was relying heavily on revenues from "parking"
websites and other websites focused on drawing in and monetizing
traffic, rather than in providing pertinent business leads; (4) that
other Internet search engines had been improving the quality of their
search results by adjusting their algorithms to lower the rankings of
subpar-quality websites; (5) that subpar domain name owners had stopped
renewing their agreements with VeriSign as a result of the Internet
search engine's efforts to discourage them by demonetizing their
practices; and (6) that the Company knew its fiscal year 2012 earnings
guidance was not attainable.
If you purchased VeriSign common stock between June 25, 2012 and October
25, 2012, if you have information or would like to learn more about
these claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire, of
Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888)
638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215)
638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
© Business Wire 2013
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