An investigation for investors in NASDAQ:SITO shares over potential securities laws violations by Sito Mobile Ltd was announced and NASDAQ:SITO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/16/2017 -- An investigation was announced for investors of Sito Mobile Ltd (NASDAQ:SITO) shares over potential securities laws violations by Sito Mobile and certain of its directors and officers was announced.
Investors who purchased shares of Sito Mobile Ltd (NASDAQ:SITO), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by Sito Mobile Ltd regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On January 3, 2017, announced Sito Mobile Ltd announced quarterly revenue results for its preliminary media placement for the quarter ending December 31, 2016. Sito Mobile Ltd stated its quarterly results were "negatively affected this year by restrained advertising spending during a period of heightened and elongated media focus on this year's U.S. election." The Company's CEO, Jerry Hug, said "We clearly underestimated the effects of this year's election on our clients' campaign spending." In the third quarter conference call, for example, Hug told an analyst there would not be a meaningful drop off as a result of the election. Shares of Sito Mobile Ltd (NASDAQ:SITO) declined to $2.15 per share on January 9, 2017.
On January 13, 2017, NASDAQ:SITO closed at $2.36 per share.
Those who purchased shares of Sito Mobile Ltd have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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