SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation Regarding Possible Violations of Federal Securities Laws ...
August 10 2016 - 9:49AM
Business Wire
Levi & Korsinsky announces it has commenced an investigation
of Connecture, Inc. (NASDAQ: CNXR) (“Connecture”) concerning
possible violations of federal securities laws by the Company
and/or certain of its officers and directors.
In May 2016 Connecture reaffirmed its previously-announced full
year 2016 guidance for total revenues. Then on August 8, 2016,
Connecture lowered its full year 2016 guidance for total revenues
to between $85.0 million to $88.0 million. The Company attributed
the lowered guidance primarily to: (1) year-to-date revenue results
being below Connecture’s initial expectations; (2) reduced revenue
expectations in Connecture’s Private Exchange business for the
remainder of the year due to slower customer adoption of its
solutions than originally anticipated; (3) the impact of certain of
Connecture’s Enterprise/Commercial customers transitioning from
maintenance of their existing platforms to upgrades to the
Company’s newest platform; and (4) the impact of Connecture’s
decision to reduce its focus on the State/Medicaid opportunity.
Following this news, shares of Connecture fell more than 30% to
close at $1.76 per share on August 9, 2016. To obtain additional
information, go to:
http://zlk.9nl.com/connecture-cnxr
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut and Washington D.C. The
firm’s attorneys have extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160810005688/en/
Levi & Korsinsky, LLPEduard Korsinsky, Esq.Tel: (212)
363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com