An investigation for investors in Marchex, Inc. (NASDAQ:MCHX) shares over potential securities laws violations by Marchex was announced.
San Diego, CA -- (SBWIRE) -- 08/31/2015 -- An investigation of Marchex Inc for investors who purchased NASDAQ:MCHX shares was announced. The investigation concernins potential securities laws violations by Marchex and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of Marchex, Inc. (NASDAQ:MCHX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Marchex, Inc. (NASDAQ:MCHX) concerning whether a series of statements by Marchex, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On September 18, 2014, Marchex, Inc. (NASDAQ:MCHX) announced it is updating its outlook for the remainder of 2014. Marchex, Inc. said that as a result of revised commitments from Allstate in the fourth quarter, Marchex is lowering its 2014 call-driven revenue outlook. Marchex, Inc. said that Allstate has indicated its desire to move to a fixed fee model going forward and that under this proposed model, Marchex's economic upside would have been limited, while financial exposure to Marchex would have remained and that Marchex does not believe it is in its best long-term interest to work under such an arrangement. Shares of Marchex, Inc. (NASDAQ:MCHX) declined to as low as $3.55 per share in November 2014.
On February 25, 2015, Marchex, Inc. reported its fourth quarter 2014 and full year 2014 results. Marchex, Inc. reported that its annual Total Revenue rose from $132.79 million in 2012 to $182.64 million in 2014 while its Net Income of $1.82 million in 2013 turned into a Net loss of $19.09 million in 2014.
Those who purchased shares of Marchex, Inc. (NASDAQ:MCHX) 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