NEW YORK, Jan. 13, 2016 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, is
investigating potential misconduct at Endurance International Group
Holdings Inc. ("Endurance" or the "Company") (EIGI).
The investigation focuses on whether the Company's Board of
Directors and its officers committed mismanagement and breached
their fiduciary duties. On April 28,
2015, research firm Gotham City Research LLC ("Gotham")
published a report entitled "Endurance International Group: A Web
of Deceit." The report alleges, among other things, that over
40% of the Company's reported profits are suspect, the Company
engaged in related party transactions for the purpose of
overstating earnings, organic growth is overstated, the Company
hosts terrorist-related websites and a high percentage of
malware/spam-related accounts, and the Company's churn rate is high
as a result of service outages, poor customer support and slow
loading speeds.
As a result, on December 17, 2015,
the Company announced that it had received a subpoena dated
December 10, 2015 from the Boston
Regional Office of the Securities and Exchange Commission (the
"SEC") requiring the production of certain documents, including,
among other things, documents related to Endurance's financial
reporting, including operating and non-GAAP metrics, refund, sales
and marketing practices and transactions with related
parties. The Company further stated that it can make no
assurance as to the time or resources that will need to be devoted
to this investigation or its final outcome, or the impact, if any,
of this investigation or any proceedings on Endurance's business,
financial condition, results of operations and cash flows.
Request more information now by clicking here:
www.faruqilaw.com/EIGI. There is no cost or obligation to
you.
Take Action
If you currently own Endurance stock and would like to discuss
your legal rights, please visit www.faruqilaw.com/EIGI. You
can also contact us by calling Stuart
Guber toll free at (215) 277-5770 or by sending an e-mail to
sguber@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding Endurance's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Attn: Stuart Guber
sguber@faruqilaw.com
Telephone: (215) 277-5770
Attn: Tim Peter
tpeter@faruqilaw.com
Telephone: (215) 277-5770
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