Shareholders Foundation, Inc.

ChannelAdvisor Corp (NYSE:ECOM) Investor Alert: Lawsuit Alleges False and Misleading Statements

A lawsuit was filed on behalf of investors in ChannelAdvisor Corp (NYSE:ECOM) shares over alleged securities laws violations. Deadline: March 24, 2015. NYSE:ECOM investors should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 01/26/2015 -- An investor, who purchased shares of ChannelAdvisor Corp (NYSE:ECOM), filed a lawsuit in the U.S. District Court for the Southern District ofNew York over alleged violations of Federal Securities Laws by ChannelAdvisor Corp in connection with certain allegedly false and misleading statements made between November 6, 2014 and January 12, 2015.

Investors who purchased shares of ChannelAdvisor Corp (NYSE:ECOM) have certain options and for certain investors are short and strict deadlines running. Deadline: March 24, 2015. ChannelAdvisor Corp (NYSE:ECOM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of ChannelAdvisor Corp (NYSE:ECOM) common shares between November 6, 2014 and January 12, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between November 6, 2014 and January 12, 2015 the defendants allegedly concealed from the investing public that ChannelAdvisor Corp's shift in customer base away from smaller clients to larger clients posed a risk to the Company's financial performance as it impacts the revenue generated from its variable subscriptions, that larger clients were given a discount in the percentage of gross merchandise value ("GMV") that goes to ChannelAdvisor Corp for variable subscription, which results in lower revenue for the Company, and that a result of defendants' alleged false and misleading statements, ChannelAdvisor Corp's stock traded at allegedly artificially inflated prices between November 6, 2014 and January 12, 2015.

On February 6, 2014, ChannelAdvisor Corp announced its fourth quarter and full year 2013 financial results. ChannelAdvisor Corp reported that its annual Total Revenue rose from $43.57 million in 2011 to $68.00 million in 2013 and that its respective Net Loss increased from $3.86 million to $20.63 million. Shares of ChannelAdvisor Corp (NYSE:ECOM) $15 per share in June 2013 to as high as $48.41 per share in March 2014.

Then on January 12, 2015, ChannelAdvisor Corp announced its preliminary fourth quarter 2014 revenue results. ChannelAdvisor Corp said that based on information available as of the date of this release, ChannelAdvisor expects revenue for the fourth quarter of 2014 to be approximately$23.7 million, compared to the prior guidance of revenue in the range of $25.6 to $26.1 million. Shares of ChannelAdvisor Corp (NYSE:ECOM) declined from $22.19 per share on January 12, 2015 to as low as 9.03 per share on January 13, 2015 and continued to decline to as low as $8.90 per share on January 22, 2015.

Those who purchased shares of ChannelAdvisor Corp (NYSE:ECOM) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com