A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Textura Corporation (NYSE:TXTR) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on October 23, 2017 and NYSE: TXTR investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/04/2017 -- A deadline is coming up on October 23, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Textura Corporation (NYSE:TXTR) between June 7, 2013 and January 7, 2014.
Investors who purchased a significant amount of shares of Textura Corporation (NYSE:TXTR) between June 7, 2013 and January 7, 2014, have certain options and should contact the Shareholders Foundation by email at firstname.lastname@example.org or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Textura Corporation (NYSE:TXTR) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/textura-corporation-nyse-txtr-investor-securities-class-action-lawsuit-10072014
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is October 23, 2017. The class action administrator for this case is Strategic Claims Services.
The lawsuit was originally filed in the U.S. District Court for the District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Textura Corporation in connection with certain allegedly false and misleading statements made between August 7, 2013 and September 29, 2014.
According to the complaint the plaintiff alleges on behalf of purchasers of Textura Corporation (NYSE:TXTR) common shares between August 7, 2013 and September 29, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that Textura Corporation made false and misleading statements and/or failed to disclose that Textura Corporation did not charge general contractors and subcontractors as many basis points for using its Construction Payment Management (''CPM'') as it claimed, that Textura Corporation overstated its total addressable market, and that Textura Corporation as a result of the foregoing, Textura Corporation's financial statements were materially false and misleading at all relevant times.
On December 26, 2013, Citron Research issued a report asserting that Textura Corporation has greatly exaggerated its true financial performance. The report asserts, among others things, that Textura Corporation: initially lied about its revenue growth and subscriber churn rates to the SEC in its original registration statement, and later withdrew such misstatements; omitted ties of its management and employees to an OTC stock whose promoters are now imprisoned; failed to disclose revenues generated from related party referrals; and exaggerated business metrics to deceive investors. Shares of Textura Corporation (NYSE: TXTR) declined from $41.16 per share on December 20, 2013 to $14.23 per share in May 2014.
Since then shares of Textura Corporation (NYSE:TXTR) grew from under $15 per share in May 2014 to as high as $30.17 per share in August 2014.
Then on September 29, 2014 Citron Research issued another report stating that "Textura and its management mislead [sic] the investing public in so many ways that it can only be considered a complete investment FRAUD." Shares of Textura Corporation (NYSE:TXTR) declined from $28.40 per share to $23.65 per share on September 29, 2014.
Textura Corporation provides cloud-based collaboration solutions for the commercial construction industry.
Those who purchased shares of Textura Corporation (NYSE: TXTR) have certain options and should contact the Shareholders Foundation.
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