Update in Lawsuit for Investors in Endurance International Group Hldgs Inc (NASDAQ:EIGI) Shares Announced by Shareholders Fou...
January 20 2016 - 10:30AM
The Shareholders Foundation, Inc. announces that a lawsuit is
pending in Massachusetts on behalf of certain purchasers of shares
of Endurance International Group Hldgs Inc (NASDAQ:EIGI) over
alleged Securities Laws Violations by Endurance International Group
Holdings.
Investors who purchased shares of Endurance International Group
Hldgs Inc (NASDAQ:EIGI) prior to November 2014 and continue to hold
any of those NASDAQ:EIGI shares have certain options and should
contact the Shareholders Foundation at
mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 28, 2015, Gotham City Research, LLC issued a report
titled “Endurance International Group: A Web of Deceit”. In the
report, Gotham City Research, LLC stated that 40%-100%+ of
Endurance International Group Hldgs’ reported profits are suspect,
that Endurance International Group Holdings‘ organic growth was
overstated and that Endurance International Group Hldgs’ revenues
per Indian filings are 30%-67% lower than reported in the United
States.
On May 4, 2015, a lawsuit was filed in the U.S. District Court
for the District of Massachusetts over alleged violations of
Federal Securities Laws by Endurance International Group Holdings.
The plaintiff claimed that defendants made allegedly false and/or
misleading statements and/or allegedly failed to disclose to
investors that Endurance International Group Holdings Inc
overstated its 2014 Average Revenue per Subscriber and organic
growth rate, that Endurance International Group Holdings Inc
engaged in irregular accounting practices related to its
international business, and that, as a result of the foregoing,
Endurance International Group Holdings’ statements about its
business, operations, and prospects, were false and misleading
and/or lacked a reasonable basis. On December 8, 2015, the
plaintiff filed an amended complaint.
On December 16, 2015, Endurance International Group Hldgs Inc
disclosed that it received a subpoena dated December 10, 2015 from
the Boston Regional Office of the Securities and Exchange
Commission, 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.
Those who purchased Endurance International Group Hldgs Inc
(NASDAQ:EIGI) prior to November 2014 and continue to hold any of
those NASDAQ:EIGI shares have certain options and should contact
the Shareholders Foundation, Inc. by e-mail at
mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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