SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

SYNC INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Synacor, Inc. Investors
[April 16, 2018]

SYNC INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Synacor, Inc. Investors


Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Synacor (News - Alert), Inc. ("Synacor" or the "Company") (NASDAQ: SYNC) securities between May 4, 2016 through March 15, 2018, inclusive (the "Class Period"). Synacor investors have until June 4, 2018 to file a lead plaintiff motion.

Investors that suffered losses on their Synacor 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 howardsmith@howardsmithlaw.com.

The complaint filed in this class action alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Synacor was unlikely to receive significant revenues from its contract with AT&T (News - Alert) Inc. until 2018; and (2) s a result, Synacor's revenue forecasts issued during the Class Period were materially false and misleading.

On August 9, 2017, Synacor issued a press release announcing its Q2 2017 results. Therein, Synacor disclosed that a significant portion of the revenue it expected in Q3 and Q4 of 2017 was delayed to 2018. The delay was purportedly due to a "strategic decision" by the joint AT&T-Synacor team to "prioritize portal engagement" over monetization, which would cause a "longer ramp to full monetization." On this news, Synacor's share price fell $1.15, or 32.4%, to close at $2.40 on August 10, 2017, thereby injuring investors.

Then, on March 15, 2018, Synacor held a conference call to discuss its Q4 2017 results. On the call, Himesh Bhise, the Company's CEO, further elaborated on problems with the Company's AT&T contract. On this news, Synacor's share price fell $0.30, or 14.63%, to close at $1.75 on March 16, 2018, thereby further injuring investors.


If you purchased shares of Synacor during the Class Period, have information or would like to learn more about these claims, or 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


[ Back To TMCnet.com's Homepage ]






Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2018 Technology Marketing Corporation. All rights reserved | Privacy Policy