A lawsuit was filed on behalf of investors in Endurance International Group Hldgs Inc (NASDAQ:EIGI) shares over alleged securities laws violations. Deadline: July 3, 2015. NASDAQ:EIGI investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/11/2015 -- An investor in shares of Endurance International Group Hldgs Inc (NASDAQ:EIGI), filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Endurance International Group Holdings Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Endurance International Group Hldgs Inc (NASDAQ:EIGI) have certain options and for certain investors are short and strict deadlines running. Deadline: July 3, 2015. NASDAQ:EIGI 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 Endurance International Group Hldgs Inc (NASDAQ:EIGI) common shares between November 4, 2014 and April 27, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims 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 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 Hldgs ' organic growth was overstated and that Endurance International Group Hldgs' revenues per Indian filings are 30%-67% lower than reported in the United States.
Endurance International Group Hldgs Inc released a statement in response to the report released byGotham City Research, LLC saying the claims in the report are baseless.
Shares of Endurance International Group Hldgs Inc (NASDAQ:EIGI) declined to as low as $15.82 per share on April 28, 2015.
Those who purchased shares of Endurance International Group Hldgs Inc (NASDAQ:EIGI) 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