DEADLINE TOMORROW: Kaskela Law LLC Reminds Synacor, Inc. Investors of Class Action Lawsuit and Important Monday Deadline
June 03 2018 - 9:00AM
Business Wire
Kaskela Law LLC reminds investors that a class action lawsuit
has been filed against Synacor, Inc. (NASDAQ: SYNC) (“Synacor” or
the “Company”) on behalf of purchasers of the Company’s securities
between May 4, 2016 and March 15, 2018, inclusive (the
“Class Period”).
IMPORTANT DEADLINE NOTICE: Investors who purchased
Synacor securities during the Class Period may, no later than Monday, June 4, 2018, seek to
be appointed as a lead plaintiff representative of the investor
class. Synacor investors are encouraged to contact Kaskela Law LLC
(D. Seamus Kaskela, Esq.) at (484) 258–1585 or (888) 715–1740 to
discuss their legal rights and options and/or visit
www.kaskelalaw.com/case/synacor for additional information prior to
the deadline.
Synacor operates as a technology development, multiplatform
services, and revenue partner for video, Internet, and
communications providers. On May 4, 2016, Synacor announced that it
had secured a three-year contract to host web and mobile services
for AT&T Inc.
On August 9, 2017, Synacor issued a press release disclosing
that “a significant portion of the revenue” that the Company was
expecting during the remainder of 2017 would be “delayed to 2018.”
Following this news, shares of the Company’s stock fell $1.15 per
share, or over 32%, to close on August 10, 2017 at $2.40 per
share.
Then, on March 15, 2018, the Company disclosed that “in the last
three quarters of 2017 we generated approximately $25 million in
revenue from AT&T.” Following this news, shares of the
Company’s stock fell an additional $0.30 per share, or nearly 15%,
to close on March 16, 2018 at $1.75 per share.
The shareholder class action complaint alleges that Synacor and
certain of its senior executive officers made false and misleading
statements and/or failed to disclose material information to
investors during the Class Period. The complaint further alleges
that investors purchased Synacor’s securities at artificially
inflated prices during the Class Period and sustained significant
investment losses following the Company’s disclosures.
Kaskela Law LLC exclusively prosecutes shareholder actions in
state and federal courts throughout the country on behalf of
investors. For additional information about Kaskela Law LLC please
visit www.kaskelalaw.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180603005044/en/
Kaskela Law LLCD. Seamus Kaskela, Esq.201 King of Prussia
RoadSuite 650Radnor, PA
19087484-258-1585888-715-1740skaskela@kaskelalaw.comwww.kaskelalaw.com
Synacor (NASDAQ:SYNC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Synacor (NASDAQ:SYNC)
Historical Stock Chart
From Sep 2023 to Sep 2024