STEVENSON, Md., Sept. 19, 2012 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the Superior Court of the State of California, County of Santa Clara, on behalf of all persons who purchased or otherwise acquired the common stock of Audience, Inc. ("Audience" or the "Company") (Nasdaq:ADNC) pursuant and/or traceable to the Company's Registration Statement and Prospectus ("Offering Documents") issued in connection with its May 9, 2012 initial public offering ("IPO").
If you have suffered a net loss for all transactions in Audience, Inc. in connection with its May 9, 2012 IPO, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at http://www.browerpiven.com/">www.browerpiven.com, by email at mailto:hoffman@browerpiven.com">hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company from the date of the IPO. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the Company's failure to disclose in the Offering Documents that the Company was in danger of losing its most lucrative and high-profile client. According to the complaint, after, on September 6, 2012, the Company announced that its earSmart technology would not be selected for use in Apple's iPhone 5, the value of Audience shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.