[February 24, 2017] |
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The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of SITO Mobile, Ltd. Investors and Encourages Investors to Contact the Firm
Law
Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors who purchased SITO Mobile, Ltd.
("SITO" or the "Company") (NASDAQ: SITO)
securities between February 9, 2016 and January 2, 2017,
inclusive (the "Class Period"). SITO investors have until April
18, 2017 to file a lead plaintiff motion.
Investors suffering losses on their SITO investments are encouraged to
contact the Law Offices of Howard G. Smith to discuss their legal rights
in this class action at 888-638-4847 or by email to [email protected].
On January 3, 2017, SITO disclosed disappointing quarterly revenue
results for its preliminary media placement for the quarter ending
December 31, 2016. ccording to SITO, the results were adversely
impacted by limited marketing expenditures and an "elongated media focus
on this year's U.S. election." On this news, SITO stock fell 32% on
January 3, 2017.
The Complaint filed in this class action lawsuit alleges that throughout
the Class Period, Defendants made false and/or misleading statements
and/or failed to disclose that: (1) SITO's development of bookings would
not drive the Company's fourth fiscal quarter 2016 media placement
revenues and revenue growth to the level represented during the Class
Period; (2) SITO was aware that the election would impact its fourth
fiscal quarter 2016 revenue, (3) clients' campaign spending and media
placement revenues in the fourth quarter 2016 was highly dependent on
the elections; (4) SITO's growth in media placement revenues would not
occur in the fourth fiscal quarter 2016; (5) consequently, SITO's
statements about its business, operations, and prospects, were false and
misleading and/or lacked a reasonable basis.
If you purchased shares of SITO during the Class Period you may move the
Court no later than April 18, 2017 to ask the Court to
appoint you as lead plaintiff if you meet certain legal requirements. To
be a member of the Class you need not take any action at this time; you
may retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email to [email protected],
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170224005115/en/
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