SAN DIEGO, Nov. 15, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in California on behalf of certain purchasers of shares of Supreme Industries, Inc. (NYSEMKT:STS) over alleged Securities Laws Violations by Supreme Industries, Inc. The lawsuit seeks to recover damages for certain NYSEMKT:STS investors.
Investors who purchased shares of Supreme Industries, Inc. (NYSEMKT:STS) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that the backlog figure from the third quarter of 2015 was a result of the timing of several large orders placed in that quarter, that the backlog figure for the third quarter of 2016 would not be close to the backlog figure of the third quarter of 2015, and that as a result, defendants’ public statements about Supreme Industries’ business, operations and prospects were materially false and misleading at all relevant times.
On October 21, 2016, Supreme Industries, Inc. announced that its third-quarter backlog of truck sales declined 22% from the third quarter 2015. Later that same day, Cliffside Research initiated coverage of the stock of Supreme Industries, Inc. with a "Strong Sell" rating, stating that the "part is over" for both the company and the market of light- to medium-duty trucks that it serves, and asserting that "[h]eavy insider trading in [Supreme Industries] is a canary in the coal mine that should not be ignored."
Those who purchased Supreme Industries, Inc. (NYSEMKT:STS) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. Michael Daniels +1 (858) 779-1554 firstname.lastname@example.org 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.