BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of MaxPoint Interactive, Inc. ("MaxPoint" or the "Company") (NYSE:MXPT) concerning the Company’s and its officers’ possible violations of federal securities laws and in connection with MaxPoint’s recent initial public offering (“IPO”).
On March 6, 2015, the Company completed its IPO, and sold more than 6.5 million shares at an initial price of $11.50 per share. However, the Company allegedly failed to disclose in its IPO materials that, the Company’s sales were highly concentrated in 50 customers at the time of the IPO; and therefore the Company was highly susceptible to its top 50 customers operational and budgetary risk. Furthermore, the Company had allegedly been signing smaller customers with smaller advertising budgets in the months leading up to the IPO, and that as a result, MaxPoint's sales growth was declining at the time of the IPO. On September 1, 2015, less than six months after the IPO, MaxPoint stock closed at $4.51, down more than 60% from the IPO price.
If you purchased MaxPoint securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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