BOULDER, Colo.--(BUSINESS WIRE)--The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of Audience, Inc. (“Audience” or the “Company”) (NASDAQ: ADNC). Audience is a California-based company that provides intelligent voice and audio solutions for mobile devices worldwide.
The Firm’s investigation concerns whether the Company’s officers and directors misrepresented or failed to disclose that Audience's processor IP would not be selected for use in the iPhone 5. In particular, on September 6, 2012, Audience announced that it was unlikely that Apple, Inc. a key client, would use Audience's earSmart voice isolation/noise cancellation technology in its iPhone 5. On this news, Audience shares declined 63% to close at $6.90 per share on September 7, 2012. Audience's financial security is strongly dependent on its relationship with Apple. For the fiscal year 2010 Apple represented 82% of Audience's revenue and in fiscal year 2011 Apple represented 75% of Audience's revenue. These events have led to the filing of numerous lawsuits against the Company.
If you currently own Audience common stock and are interested in discussing your rights as a shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at firstname.lastname@example.org or email Mr. Glenn at email@example.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.