STEVENSON, Md., Nov. 26, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Tremor Video, Inc. ("Tremor Video" or the "Company") (NYSE:TRMR) common stock pursuant to and/or traceable to the Registration Statement and Prospectus issued in connection with Tremor Video's June 27, 2013 initial public offering ("IPO").
If you have suffered a net loss from investment in Tremor Video, Inc. common stock purchased pursuant to and/or traceable to the IPO, at no cost to you, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than January 21, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the defendants' failure to disclose in connection with the IPO that the online advertising market had materially shifted towards mobile browsing, as opposed to desktop browsing, placing the Company at a significant disadvantage, and that the Company was losing sales to competitors because of its inferior mobile browsing capabilities. According to the complaint, shares of Tremor Video have declined 60% from the time of the IPO.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 firstname.lastname@example.orgSource: Brower Piven, A Professional Corporation