NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm today announced that a class action lawsuit has been filed on behalf of all purchasers of the securities of Tremor Video, Inc. (NYSE:TRMR), including those purchasing in Tremor’s initial public offering, and also those investors purchasing later on the open market. The lawsuit alleges violations of federal securities law against the Company and certain of its officers and directors.
To join the Tremor Video class action, go to the website at http://rosenlegal.com or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants issued materially false and misleading statements about Tremor Video’s true business and financial condition in violation of the federal securities laws. Specifically, the complaint alleges that the defendants concealed from investors that: (i) the online advertising market had materially shifted away from desktop browsing to mobile browsing, where the Company was at a significant disadvantage to its competitors; (ii) the Company was losing sales to competitors due to its inferior mobile browsing capabilities; and (iii) consequently, the Company's statements were materially false and misleading at all relevant times. When this adverse information was disclosed, it caused the price of Tremor Video stock to drop, damaging investors.
A class action lawsuit has already been filed on behalf of Tremor Video investors. If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe concentrating its practice in securities class actions.