SAN DIEGO and NEW YORK,
Jan. 27, 2015 /PRNewswire/
-- Shareholder rights law firm Robbins Arroyo LLP is
investigating whether certain officers and directors of Tremor
Video, Inc. (NYSE: TRMR) breached their fiduciary duties to
shareholders. Tremor provides an in-stream video ad network
for Internet-connected devices such as computers, smartphones, and
tablets.
View this press release on the law firm's Shareholder Rights
Blog:
http://www.robbinsarroyo.com/shareholders-rights-blog/tremor-video-inc-jan-2015
Tremor Misled Investors
Robbins Arroyo LLP's investigation focuses on allegations that
Tremor improperly touted its business in the Registration Statement
and Prospectus filed with the U.S. Securities and Exchange
Commission in connection with the company's June 27, 2013 initial public offering.
Specifically, Tremor failed to disclose that the online advertising
market had shifted from desktop browsing, where the company
focused, to mobile browsing, a market in which Tremor was at a
significant disadvantage and a major factor in the company's poor
third quarter financial results. On November 7, 2013, Tremor released its third
quarter 2013 financial results reporting a net loss of $2.2 million. On this news, the company's stock
declined $4.54 per share, or 49%, to
close at $4.72 per share on
November 8, 2013. Tremor's
stock price has continued to decline and now trades significantly
below the price it traded at prior to this announcement.
In light of this news, Robbins Arroyo LLP is investigating
whether Tremor's board of directors breached its fiduciary duties
to shareholders by lacking adequate internal controls.
Tremor Shareholders Have Legal Options
Concerned shareholders who would like more information about
their rights and potential remedies can contact attorney
Darnell R. Donahue at (800)
350-6003, DDonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than
$1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, Ca 92101
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
Logo -
http://photos.prnewswire.com/prnh/20130103/MM36754LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/robbins-arroyo-llp-is-investigating-the-officers-and-directors-of-tremor-video-inc-trmr-on-behalf-of-shareholders-300026558.html
SOURCE Robbins Arroyo LLP