INVESTOR ALERT: Investigation on Behalf of Investors of LeapFrog Enterprises, Inc. Announced by Law Offices of Howard G. Smith
January 27 2015 - 6:32PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of LeapFrog
Enterprises, Inc. (“LeapFrog” or the “Company”) (NYSE:LF)
concerning possible violations of federal securities laws. LeapFrog
is a developer of educational entertainment for children, including
the LeapPad family of learning tablets.
The investigation is related to allegations that the Company
misrepresented or failed to disclose that: (1) the Company was
experiencing a decline in consumer demand; (2) the launch and
shipment of the Company’s new LeapTV video game system were delayed
by developmental issues; (3) retailers were overstocked with the
Company’s LeapPad products; (4) as a result, the Company lacked a
reasonable basis for its financial guidance; and (5), as a result
of the foregoing, the Company’s statements were materially false
and misleading at all relevant times.
On January 22, 2015, after the close of trading, LeapFrog
announced preliminary financial results for its 2014 fiscal third
quarter. These financial results were significantly below the
Company’s stated expectations and financial guidance. According to
the Company, LeapFrog’s disappointing sales results were related to
decreased demand for its products and development issues with the
Company’s LeapTV educational video game system. Following this
news, shares of LeapFrog declined nearly 35%, to close on January
23, 2015, at $2.55 per share, on unusually heavy volume.
If you purchased LeapFrog shares between May 5, 2014 and January
22, 2015, if you have information or would like to learn more about
these claims, or if you have any questions
concerning this announcement or your rights or interests with
respect to these matters, please
contact, 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. SmithHoward G. Smith, Esquire(215)
638-4847(888)
638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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