Key Developments: magicJack Vocaltec Ltd (CALL.W)
17.05USD
16 May 2013
$-0.13 (-0.76%)
$17.18
$17.09
$17.09
$17.05
200
575
$27.13
$11.00
Latest Key Developments (Source: Significant Developments)
magicJack VocalTec Ltd Announces Appointment Of Jose Gordo As Chief Financial Officer
magicJack VocalTec Ltd announced that Jose Gordo has been appointed Chief Financial Officer. Peter Russo, magicJack's former Chief Financial Officer, is remaining with the Company as a consultant. Full Article
magicJack VocalTec Ltd Issues FY 2013 Guidance Above Analysts' Estimates
magicJack VocalTec Ltd announced that for fiscal 2013, it expects total net revenues to be in the range of $155 and $160 million and adjusted EBITDA to be in the range of $52 and $55 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $60 million and EBITDA of $47 million for fiscal 2013. Full Article
Holzer Holzer & Fistel, LLC Advises Investors Of Upcoming Deadlines In Shareholder Litigation Involving magicJack VocalTec Ltd., Tellabs, Inc. And Keryx Biopharmaceuticals
Holzer Holzer & Fistel LLC reminds investors of upcoming deadlines for applications to serve as lead plaintiff in securities class action lawsuits against magicJack VocalTec Ltd (CALL), Tellabs, Inc. (TLAB) and Keryx Biopharmaceuticals, Inc. (KERX). A class action lawsuit has been filed on behalf of investors who purchased magicJack. securities between February 28, 2012 and January 8, 2013. The lawsuit alleges the Company violated the federal securities laws by, among other things, allegedly overstating the Company's earnings, revenue and cash flows during that time. Full Article
Cohen Milstein Sellers & Toll PLLC Announces Investigation Of magicJack VocalTec Ltd
Cohen Milstein Sellers & Toll PLLC announced that it is conducting an investigation to determine whether magicJack VocalTec Ltd and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. A class action lawsuit was filed in the U.S. District Court for the Southern District of New York by another law firm on behalf of purchasers of the common stock of magicJack VocalTec, Ltd. between February 28, 2012 and January 8, 2013, inclusive (the Class Period). Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At magicJack VocalTec Ltd
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at magicJack VocalTec Ltd. The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) magicJack had overstated revenue, earnings and cash flow in its SEC filings; (2) the Company overstated its cash balance by investing its shareholder cash in risky, alternative securities; (3) the Company exaggerated its earnings by increasing its allowance for doubtful accounts and billing adjustments; (4) the Company incorrectly reduced the depreciation expenses for magicJack assets; and (5) while the Company claimed that it was writing down its excess inventory of microchips, it instead wrote down finished products in order to camouflage declining sales momentum. On January 9, 2013, Copperfield Research published a report revealing that the Company had been consistently overstating its revenue and profitability. Copperfield Research stated that "magicJack has presented its retail investor base with earnings press release and financial tables that are overstated and later altered based on the corresponding SEC filings." On this news, magicJack stock declined $2.01 per share or more than 11%, to close at $15.30 per share on January 9, 2013. Full Article
Rigrodsky & Long, P.A. Announces Securities Fraud Class Action Lawsuit Has Been Filed Against magicJack VocalTec Ltd
Rigrodsky & Long, P.A. announced that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of magicJack VocalTec Ltd. (magicJack or the Company) between February 28, 2012 and January 8, 2013, inclusive (the Class Period), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the Complaint). Full Article
Federman & Sherwood Announces Securities Class Action Lawsuit Against magicJack VocalTec Ltd
Federman & Sherwood Announces announced that a class action lawsuit was filed in the United States District Court for the Southern District of New York against magicJack VocalTec Ltd. The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 28, 2012 through January 8, 2013. Plaintiff seeks to recover damages on behalf of all magicJack VocalTec Ltd. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, March 19, 2013 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995. Full Article
magicJack VocalTec Ltd Appoints Gerald T. Vento as President and CEO
magicJack VocalTec Ltd announced the appointment of Gerald T. Vento as President and Chief Executive Officer effective January 1, 2013. In connection with Mr. Vento's new role, current Board Member Donald Burns will assume the role of Chairman of the Board. Full Article
magicJack VocalTec Ltd Issues Q4 2012 Operating Income Guidance-Conference Call
magicJack VocalTec Ltd announced that for the fourth quarter of 2012. it expects to have over $0.70 per share of operating income. These estimates increased based on lower telecom expenses, higher receipts and a reduction in legal, advertising, media and other expenses. Full Article
magicJack VocalTec Ltd Issues Q4 2012 EPS Guidance Above Analysts' Estimates; Raises FY 2012 EPS Guidance; Sees FY 2012 Revenue Guidance At Mid Point Of Prior Range
magicJack VocalTec Ltd announced that for the fourth quarter of 2012, it expects operating income to be greater than $0.50 per share. For fiscal 2012, it expects GAAP EPS to be above previous estimated range and GAAP Revenue projected to be approximately $155.0 Million or 40% above fiscal 2011 revenue of $110.5 Million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $0.36 for the fourth quarter Of 2012; revenue of $153.02 and EPS of $1.87 for fiscal 2012. Full Article
MagicJack sees strong current quarter; shares up
- MagicJack Vocaltec Ltd reported a fourth-quarter profit on strong sales of its devices to make and receive calls over the Internet, and said current-quarter adjusted profit will be higher compared to a year earlier.
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