OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Instagram Outage Disrupts Thousands of U.S. Users 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
SAN FRANCISCO, Oct. 07, 2016 -- Hagens Berman Sobol Shapiro LLP alerts investors in Inteliquent, Inc. that the firm is investigating possible securities law violations by the Company and its officers.
If you purchased or otherwise acquired securities of Inteliquent before September 19, 2016 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/IQNT
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
During Inteliquent’s February 18, 2016 earnings conference call, the Company provided 2016 revenue guidance of $370 to $390 million. The Company reiterated its guidance during the Company’s April 28, 2016 earnings conference call. On August 2, 2016, Inteliquent missed profit expectations and reduced revenue guidance to $360 to $370 million, driving the price of the Company’s shares down over 20% to close at $16.60 that day.
On September 19, 2016, Inteliquent announced its CFO resigned. In response to this news, the price of the Company’s shares fell over 8% to close at $15.34 on September 20, 2016.
Prior to the Company’s guidance reduction and stock drop, an Inteliquent director sold nearly $5 million worth of Company stock in July 2016.
“We’re looking into when the Company and management knew they would reduce revenue guidance,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Inteliquent should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email. [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
