The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit Against Inphonic, Inc.

  
    
  
  
    
      Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania 
      and Ohio, announces that a lawsuit has been filed in the United States 
      District Court for the District of Columbia, on behalf of persons who 
      purchased or otherwise acquired publicly traded securities of Inphonic, 
      Inc. (“Inphonic” or 
      the “Company”) 
      (NASDAQ:INPC) between August 2, 2006 and May 3, 2007, inclusive, (the “Class 
      Period”). The lawsuit was filed against 
      Inphonic and certain officers and directors (“Defendants”).
    
    
      If you are a member of this class and wish to view a copy of a complaint 
      and join this class action, please e-mail us at [e-mail] 
      and request a copy of the complaint and a plaintiff certification. If 
      you are a member of the Class, you may move the Court no later than July 
      6, 2007 to serve as a lead plaintiff for the Class. Any member of the 
      purported class may move the Court to serve as lead plaintiff through 
      counsel of their choice, or may choose to do nothing and remain an 
      absent class member. However, if you choose to remain an absent class 
      member, unless and until a class is certified, you are not represented 
      by counsel.
    
    
      The complaint alleges that Defendants violated Sections 10(b) and 20(a) 
      of the Securities Exchange Act of 1934. In particular, the complaint 
      alleges that Inphonic issued a series of false and misleading statements 
      concerning the Company’s 2006 fiscal year 
      financial results. The complaint further alleges that during the Class 
      Period, Inphonic: (1) incorrectly recorded revenues associated with 
      uncollectible carrier commissions and bonuses; (2) improperly recognized 
      revenues for certain cancelled consumer contracts; (3) incorrectly 
      recorded certain accrued expenses; and, (4) incorrectly recorded certain 
      equipment expenses.
    
    
      On April 3, 2007, Inphonic issued a Form 8-K indicating that the Company’s 
      financial statements for the quarterly periods ended June 30, September 
      30, and December 31, 2006 could no longer be relied upon due to errors 
      in the Company’s revenue recognition process. 
      Shares reacted negatively to the news, falling from $10.36 per share to 
      $9.15 per share, a one-day decline of 11.5%. Then on May 4, 2007, the 
      Company issued an additional Form 8-K, providing further clarification 
      on its issues concerning revenue recognition, Shares of Inphonic fell 
      again, dropping from $8.54 per share to $7.90 per share, a one day 
      decline of 7.5%.
    
    
      If you bought Inphonic securities between August 2, 2006 and May 3, 
      2007, inclusive, and would like to obtain information about the lawsuit, 
      then you are invited to call [phone] to speak with an advisor.