An investigation on behalf of investors in Switch, Inc. (NYSE: SWCH) shares over potential wrongdoing at Switch, Inc. was announced and NYSE: SWCH stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/01/2018 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Switch, Inc.
Investors who purchased shares of Switch, Inc. (NYSE: SWCH) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Switch, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Switch, Inc. (NYSE: SWCH) concerning whether a series of statements by Switch, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On October 6, 2017, Switch, Inc. sold 31,250,000 million shares of stock in its initial public stock offering (the "IPO"), at $17 a share raising $531,250,000 in new capital.
On April 2, 2018, Switch, Inc. announced its fourth quarter and 2017 financial results. Switch, Inc. reported that its annual Total Revenue rose from $318.35 million in 2016 to $378.27 million in 2017 and that its Net Income of $31.36 million in 2016 turned into a Net loss of $8.58 million in 2017. In addition, Switch, Inc. provided its fully year 2018 guidance.
Those who purchased shares of Switch, Inc. (NYSE: SWCH) 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