An investigation for investors in Textura Corp (NYSE:TXTR) shares over potential securities laws violations by Textura was announced and NYSE:TXTR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/07/2014 -- The Shareholders Foundation announces that an investigation on behalf of investors of Textura Corp (NYSE:TXTR) shares was initiated over potential securities laws violations by Textura and certain of its directors and officers.
Investors who purchased shares of Textura Corp (NYSE:TXTR) 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 focuses on possible claims on behalf of purchasers of the securities of Textura Corp (NYSE:TXTR) concerning whether a series of statements by Textura regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Textura Corp reported that its Total Revenue rose from $10.51 million for the 12 months period that ended on Sept. 30, 2011 to $35.53 million for the 12 months period that ended on Sept. 30, 2013 and that its respective Net Loss increased from $18.93 million to $36.88 million.
On December 26, 2013, Citron Research issued a report asserting that Textura has greatly exaggerated its true financial performance. The report asserts, among others things, that Textura: initially lied about its revenue growth and subscriber churn rates to the SEC in its original registration statement, and later withdrew such misstatements; omitted ties of its management and employees to an OTC stock whose promoters are now imprisoned; failed to disclose revenues generated from related party referrals; and exaggerated business metrics to deceive investors. Shares of Textura Corp (NYSE:TXTR) declined from $41.16 per share on December 20, 2013 to $14.23 per share in May 2014.
Since then shares of Textura Corp (NYSE:TXTR) grew from under $15 per share in May 2014 to as high as $30.17 per share in August 2014.
Then on September 29, 2014 Citron Research issued another report stating that “Textura and its management mislead [sic] the investing public in so many ways that it can only be considered a complete investment FRAUD.” Shares of Textura Corp (NYSE:TXTR) declined from $28.40 per share to $24.01 per share on September 29, 2014.
On October 3, 2014, NYSE:TXTR shares closed at $27.04 per share.
Those who purchased shares of Textura Corp (NYSE:TXTR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego