A class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of purchasers of Novatel Wireless, Inc. (NASDAQ: NVTL) common stock during the period between February 5, 2007 and August 19, 2008 (the “Class Period”). The complaint charges Novatel and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Novatel is a provider of wireless broadband access solutions for the worldwide mobile communications market.

The complaint alleges that during the Class Period, defendants misrepresented Novatel’s financial performance. Specifically, defendants failed to disclose that the Company was recognizing revenue in violation of its own revenue cut-off procedures and Generally Accepted Accounting Principles, thus rendering the Company’s publicly reported financial results materially false. The defendants also repeatedly misrepresented the status of an internal accounting review by the Company’s Audit Committee. On May 13, 2008, defendants represented that the Company was unable to file its Form 10-Q with the SEC on time because of a review of a single customer contract which they represented was “substantially completed today.” Over three months later, on August 19, 2008, defendants admitted that the review was still ongoing, that it involved at least six transactions representing $9.1 million in revenue, and that when the review was completed a decision would be made as to whether a restatement would be required. As a result of these disclosures, Novatel’s stock price dropped from $8.40 to $6.29 the next day, a 25% decline.

If you are a current shareholder and purchased during period between February 5, 2007 and August 19, 2008 and would like to discuss your options of exercising your rights as a shareholder, please contact us.

Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.