SHAREHOLDER ALERT: Brower Piven Encourages Investors With Losses Over $100,000 in Covisint Corporation to Contact the Firm Be...
July 23 2014 - 8:30AM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of Covisint
Corporation ("Covisint" or the "Company") (Nasdaq:COVS) common
stock pursuant and/or traceable to Covisint's September 26, 2013
initial public stock offering (the "IPO"), and informs investors
who wish to become proactively involved in the litigation that they
have until July 29, 2014 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in Covisint common
stock pursuant to the Company's IPO, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
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 no later than July 29, 2014 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 Company units during the Class
Period.
The complaint accuses the defendants of violations of the
Securities Act of 1933 by virtue of the defendants' failure to
disclose in the Registration Statement and Prospectus issued in
connection with the IPO that the Company was experiencing a greater
than expected decline in its subscription revenue due to poor sales
execution and late-stage pipeline conversion issues, that the
Company was experiencing a decline in General Motors-related
service revenue, that the Company was losing healthcare customers
at an increasing rate and its pipeline of healthcare-related deals
was steadily declining. According to the complaint, following the
revelation of this information, the value of Covisint shares
declined significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. 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.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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