LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Supreme Industries Inc. (“Supreme” or the “Company”) (NYSE: STS) concerning possible violations of federal securities laws between July 22, 2016 and October 21, 2016 inclusive (the “Class Period”). Investors, who purchased or otherwise acquired shares during the Class Period, are encouraged to contact the firm in advance of the January 3, 2017 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, Supreme 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 many 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 of the above, the Company’s public statements about its business, operations and prospects were materially false and misleading at all relevant times. On October 21, 2016, Supreme announced its third quarter backlog of truck sales declined 22% from the third quarter 2015. On October 22, 2016, Cliffside Research published a report discussing the unexpected third quarter backlog decline and heavy insider selling through 2016.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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