A lawsuit was filed on behalf of investors in Supercom Ltd (NASDAQ:SPCB) shares over alleged securities laws violations and NASDAQ:SPCB investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/11/2016 -- A shareholder in shares of Supercom Ltd filed a lawsuit over alleged violations of Securities Laws by Supercom Ltd in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Supercom Ltd (NASDAQ:SPCB) have certain options and for certain investors are short and strict deadlines running. Deadline: February 8, 2015. NASDAQ:SPCB investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of Supercom Ltd (NASDAQ:SPCB) common shares between June 1, 2015 and November 27, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 1, 2015 and November 27, 2015 defendants failed to disclose that Supercom Ltd was having difficulty closing certain governmental sales and the revenue associated with those sales would be substantially delayed, that Supercom Ltd's "pipeline" was neither strong nor "broadening," and that, as a result, Supercom Ltd was not on track to achieve the financial results defendants had led the market to expect between June 1, 2015 and November 27, 2015.
On November 30, 2015, Supercom Ltd announced its preliminary third quarter revenue and updated its full year 2015 forcast. Supercom Ltd stated that its "'financial performance in the third quarter and full-year were impacted by [its] inability to recognize more than $10 million of revenues that were expected this year, mainly due to delays associated with foreign government customers.'" Shares of Supercom Ltd (NASDAQ:SPCB) declined to as low as $4.54 per share on November 30, 2015.
On January 7, 2016, NASDAQ:SPCB shares closed at $4.96 per share.
Those who purchased shares of Supercom Ltd (NASDAQ:SPCB) 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