SAN DIEGO, Dec. 2, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Tremor Video Inc (TRMR) common stock over alleged violations of Federal Securities Laws by Tremor Video Inc in connection with the Registration Statement and Prospectus issued in connection with Tremor Video's June 27, 2013 initial public stock offering.
If you purchased a significant amount of shares of Tremor Video Inc (TRMR) between June 27, 2013 and November 7, 2013, and / or if you acquired TRMR shares on June 27, 2013 or before and currently hold any of those shares, you have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the Registration Statement issued in connection with Tremor Video's June 27, 2013 initial public stock offering ("IPO") was negligently prepared and, as a result, contained untrue statements of material facts or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation.
More specifically, the plaintiff alleges that the defendants failed to disclose the following material facts which existed at the time of the IPO, such as that the online advertising market had materially shifted towards mobile browsing, as opposed to desktop browsing, where Tremor Video Inc was at a significant disadvantage to its competitors, and that Tremor Video Inc was losing sales to competitors as a result of its inferior mobile browsing capabilities.
On November 7, 2013, Tremor Video Inc reported its third quarter 2013 financial results. Tremor Video Inc said that in the third quarter 2013 its Revenue was $35.3 million and its Net Loss was $2.2 million. Among other things, Tremor Video Inc also issued its guidance for the fourth quarter and full year 2013.
Shares of Tremor Video Inc (TRMR) declined from $10.36 per share on November 7, 2013, to $3.69 per shares on November 13, 2013.
Those who purchased shares of Tremor Video Inc have certain options and should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Trevor Allen +1 (858) 779-1554 firstname.lastname@example.org 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.