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Law Offices of Howard G. Smith Announces Investigation of VeriSign, Inc.

2013-02-23 06:00 ET - News Release


BENSALEM, Pa. -- (Business Wire)

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.

Contacts:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215) 638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Source: Law Offices of Howard G. Smith

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