An investigation on behalf of current long term investors in Sito Mobile Ltd (NASDAQ: SITO) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 02/20/2019 -- An investigation was announced for current long-term investors in NASDAQ: SITO shares over potential breaches of fiduciary duties by certain directors of Sito Mobile Ltd.
Investors who are current long term investors in Sito Mobile Ltd (NASDAQ: SITO) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: SITO stocks follows a lawsuit filed against Sito Mobile Ltd over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: SITO stocks, concerns whether certain Sito Mobile directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that the Defendants issued materially false and/or misleading statements and/or failed to disclose that Sito Mobile's growth of bookings would not propel the Company's fourth fiscal quarter 2016 media placement revenues and revenue growth to the level represented during the Class Period, that Sito Mobile was aware that the election would impact the Company's fourth fiscal quarter 2016 revenue, that clients' campaign spending and media placement revenues in the fourth quarter 2016 was highly dependent on the elections, that the Company's growth in media placement revenues would not occur in the fourth fiscal quarter 2016, and that as a result of the foregoing, the Company's statements, as well as Defendants' statements about Sito Mobile's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Those who purchased shares of Sito Mobile Ltd (NASDAQ: SITO) have certain options and should contact the Shareholders Foundation.
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