Berman Tabacco

Velti PLC

In re Velti PLC Securities Litigation, No. 13-cv-03889 (N.D. Cal.)

As plaintiffs’ counsel representing named plaintiff St. Paul Teachers’ Retirement Fund Association, Berman Tabacco joined lead counsel to recover $10,250,000 on behalf of investors. Plaintiffs alleged that defendants (i) reported financial results that failed to comply with GAAP; (ii) overstated the company’s accounts receivable, revenue, income and shareholder equity; (iii) failed to record a proper allowance for doubtful accounts; and (iv) misled investors about the quality and collectability of Velti’s receivables. This case presented challenges because the company was in bankruptcy and many of the defendants were overseas nationals.

Case Information

  • Settlement Amount:
    $10,250,000