ENDURANCE INTERNATIONAL GROUP HO (NASDAQ:EIGI)
Historical Stock Chart
2 Years : From Mar 2015 to Mar 2017
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
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 [email protected]
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.
View source 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 [email protected]