LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Supreme Industries, Inc. (“Supreme” or the “Company”) (NYSE: STS) securities between July 22, 2016 and October 21, 2016, inclusive (the “Class Period”). Supreme investors have until January 3, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Supreme investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
Supreme manufactures and distributes custom built trucks and vehicles for private and government use. According to the Complaint filed in this lawsuit, throughout the Class Period Defendants made false and/or misleading statements concerning its backlog figures and future profitability. Specifically, the complaint alleges that Supreme failed to advise investors regarding its declining backlog and that: (1) the backlog figure from the third quarter of 2015 was a result of the timing of several large orders placed in that quarter; (2) the backlog figure for the third quarter of 2016 would not be close to the backlog figure of the third quarter of 2015; and (3) as a result, Defendants’ public statements about Supreme Industries’ business, operations and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damage.
If you purchased shares of Supreme during the Class Period you may move the Court no later than January 3, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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