DEADLINE ALERT: Brower Piven Alerts Shareholders Of Approaching Deadline In Class Action Lawsuit And Encourages Those With Lo...
December 07 2016 - 10:00PM
Business Wire
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 Central
District of California on behalf of purchasers of Supreme
Industries Inc. (NYSE MKT: STS) (“Supreme Industries” or the
“Company”) securities during the period between July 22, 2016 and
October 21, 2016, inclusive (the “Class Period”). Investors who
wish to become proactively involved in the litigation have until
January 3, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Supreme Industries securities during the Class
Period. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff. No class has
yet been certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the backlog number
from 2015’s third quarter was a result of the timing of several
large orders placed in that quarter and the backlog number from
2016’s third quarter would not be close to the backlog number of
2015’s third quarter.
According to the complaint, following an October 21, 2016 press
release, conference call, and report announcing that the lower
backlog comparison is due to two large fleet replacement orders and
the timing of an annual fleet account order received during the
third quarter of last year and that the circumstances surrounding
the backlog of the third quarter of 2015 was unique, the value of
STS shares declined significantly.
If you have suffered a loss in excess of $100,000 from
investment in Supreme Industries securities purchased on or after
July 22, 2016 and held through the revelation of negative
information during and/or at the end of the Class Period 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.
Brower Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161207006067/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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