|[March 13, 2013]
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against VeriSign, Inc.
LOS ANGELES --(Business Wire)--
The Law Offices of Todd M. Garber announces that a class action lawsuit
has been filed in the United States District Court for the Eastern
District of Virginia on behalf of all purchasers of the common stock of
VeriSign (News - Alert), Inc. ("VeriSign" or the "Company") (NASDAQ:VRSN) between June
25, 2012 and October 25, 2012, inclusive (the "Class Period").
The Complaint alleges that the Company misrepresented and/or failed to
disclose that: (1) challenges to the Company's registry pricing scheme
made it more likely the U.S. Department of Justice and Department of
Commerce would demand price concessions in exchange for leaving VeriSign
in charge of operating the .com and .net networks; (2) the Company's
growth in domain name registrations was declining; (3) VeriSign was
relying heavily on revenus from "parking" websites and other
lower-quality websites focused on drawing in and monetizing traffic,
rather than in providing pertinent business leads; (4) defendants knew
that Google (News - Alert) and 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) 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) as a result, defendants knew VeriSign's fiscal
year 2012 earnings guidance was not attainable.
No class has yet been certified in this action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased VeriSign common stock during the Class Period, you have
certain rights, and have until March 18, 2013 to move for lead plaintiff
status. To be a member of the class you need not take any action at this
time, and you may retain counsel of your choice. If you wish to discuss
this action or have any questions concerning your rights or interests
with respect to these matters, please contact Todd M. Garber, Esquire,
of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by
email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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