Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the District of New Jersey on behalf of shareholders of SITO Mobile, Ltd. (NASDAQ:SITO) (“SITO”) who purchased shares between February 9, 2016 and January 2, 2017.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Sito’s growth of bookings would not propel the Company’s fourth fiscal quarter 2016 media placement revenues and revenue growth to the level represented during the Class Period; (ii) Sito was aware that the election would impact the Company’s fourth fiscal quarter 2016 revenue, (iii) clients’ campaign spending and media placement revenues in the fourth quarter 2016 was highly dependent on the elections; (iv) the Company’s growth in media placement revenues would not occur in the fourth fiscal quarter 2016; (v) as a result of the foregoing, the Company’s statements, as well as Defendants’ statements about Sito’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you suffered a loss in Sito you have until April 18, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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