BroadSoft Inc (NASDAQ:BSFT) under Investor Investigation Over Possible Securities Laws Violations

If you purchased shares of BroadSoft Inc (NASDAQ:BSFT), you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
BroadSoft
Affected Securities: 
NASDAQ: BSFT

Mar 4, 2013 (Shareholders Foundation) -- An investigation on behalf of investors of BroadSoft Inc (NASDAQ:BSFT) shares over potential securities laws violations by BroadSoft Inc and certain of its directors and officers in connection certain financial statements was announced .

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of BroadSoft Inc (NASDAQ:BSFT) concerning whether a series of statements by BroadSoft Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

BroadSoft Inc reported that its annual Total Revenue rose from $61.83 million in 2008 to $138.06 million in 2011 and its Net Loss of $11.24 million in 2008 turned into a Net Income of $32.30 million in 2011. For the first three quarters in 2012 BroadSoft Inc reported a combined nine months Total Revenue of $119.03 million with a combined nine months Net Income of $7.20 million.

Shares of BroadSoft Inc (NASDAQ:BSFT) reached in 2011 as high as $52.57 per share and in 2012 as high as $44.25 per share.

Then on Feb. 27, 2013, after the market closed, BroadSoft Inc reported its fourth quarter and Full Year 2012 financial results. BroadSoft Inc reported Total Revenue for 2012 of $164.8 million with a Net Income of $40.9 million for 2012.

Among other things, BroadSoft Inc also issued its first quarter 2013 and Full Year 2013 guidance.

Shares of BroadSoft Inc (NASDAQ:BSFT) declined from $33.12 per share on Feb. 27, 2013, to $20.79 per share on Feb. 28, 2013.