LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of AutoWeb, Inc. (“AutoWeb” or the “Company”) (NASDAQ: AUTO) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the AutoWeb investigation page on our website at www.glancylaw.com/case/autoweb-inc.
On March 8, 2018, AutoWeb reported fiscal year 2017 revenue of only $142.1 million which fell below the Company’s prior guidance of $144 to $148 million. The Company attributed the shortfall to “higher traffic acquisition costs.” The Company further announced that its CEO, Jeff Coats, and its CFO, Kimberly Boren, were “stepping down.”
On this news, AutoWeb’s share price fell $2.82, or 41.6%, to close at $3.96 per share on March 9, 2018, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased AutoWeb 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 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 email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.