GPM Reminds Investors of the January 3rd Deadline in the Class Action Lawsuit Against Supreme Industries Inc. & Encourages In...
December 28 2016 - 3:34PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
January 3, 2017 deadline to file a lead plaintiff motion in
the class action lawsuit filed on behalf of investors who purchased
or otherwise acquired Supreme Industries, Inc. (“Supreme” or the
“Company”) (NYSE: STS) securities between July 22, 2016 and
October 21, 2016, inclusive (the “Class Period”). Supreme
investors have until January 3, 2017 to file a
lead plaintiff motion.
Supreme manufactures and distributes custom built trucks and
vehicles for private and government use. According to the Complaint
filed in this lawsuit, throughout the Class Period Defendants made
false and/or misleading concerning its backlog figures and future
profitability. Specifically, the complaint alleges that Supreme
failed to advise investors regarding its declining backlog and
that: (1) the backlog figure from the third quarter of 2015 was a
result of the timing of several large orders placed in that
quarter; (2) the backlog figure for the third quarter of 2016 would
not be close to the backlog figure of the third quarter of 2015;
and (3) as a result, Defendants’ public statements about Supreme
Industries’ business, operations and prospects were materially
false and misleading at all relevant times. When the true details
entered the market, the lawsuit claims that investors suffered
damage.
If you purchased or otherwise acquired Supreme shares during the
Class Period, you may move the Court no later than January
3, 2017 to request appointment as lead plaintiff. To be a
member of the class you need not take any action at this time; you
may retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn
more about this action, or if you have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire,
of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California
90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161228005407/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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