SYNACOR SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Synacor, Inc. – SYNC
NEW ORLEANS, April 13, 2018 /PRNewswire/ — Kahn Swick & Foti, LLC («KSF») and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 4, 2018 to file lead plaintiff applications in a securities class action lawsuit against Synacor, Inc. (NasdaqGM: SYNC), if they purchased the Company’s securities between May 4, 2016 and March 15, 2018, inclusive (the «Class Period»). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Synacor and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgm-sync/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 4, 2018.
About the Lawsuit
Synacor and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 15, 2018, during an investor conference call to discuss Synacor’s 4Q financial results, CEO Himesh Bhise addressed difficulties with the Company’s contract with AT&T and the effect on earnings, stating «in the last three quarters of 2017, we generated approximately $25 million in revenue from AT&T…this forecast is below the $100 million annual revenue target that AT&T and Synacor announced when we first discussed the portal contract and was a critical element of Synacor’s $300 million 2019 target.»
On this news, the price of Synacor’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC