SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 from Investment in Endurance Inter...
June 08 2015 - 5:44PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the District
of Massachusetts on behalf of purchasers of Endurance International
Group Holdings, Inc. (“Endurance” or the “Company”) (Nasdaq:EIGI)
common stock during the period between November 4, 2014 and April
27, 2015, inclusive (the “Class Period”). Investors who wish to
become proactively involved in the litigation have until July 3,
2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in Endurance common
stock purchased on or after November 4, 2014 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above action.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Company common stock during the Class Period. Brower
Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Company
overstated its average revenue per subscriber (“ARPS”) and organic
growth rate and also engaged in irregular accounting practices
related to its international business. According to the complaint,
following the publication on April 28, 2015 of a Gotham City
Research LLC report alleging, among other things, that 40% to 100%
of the Company’s reported profits were suspect, that the Company's
normalized profits would be insufficient to cover its interest
expenses, that the Company uses related parties to inflate
earnings, that various accounting irregularities relating to the
Company's international business existed and that the Company's
reported organic growth rate was overstated and that 2014 ARPS had
actually declined 13%, the value of Endurance shares declined
significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20150608006659/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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