SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Marchex, I...
November 19 2015 - 5:05PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of
Marchex, Inc. (NASDAQ GS: MCHX)?
- Did you purchase your shares between
March 19, 2014 and September 18, 2014, inclusive?
- Did you lose money in your
investment?
Rigrodsky & Long, P.A. announces that a complaint has been
filed in the United States District Court for the Southern District
of New York on behalf of all persons or entities that purchased the
common stock of Marchex, Inc. (“Marchex” or the “Company”) (NASDAQ
GS: MCHX) between March 19, 2014 and September 18, 2014, inclusive
(the “Class Period”), alleging violations of the Securities
Exchange Act of 1934 against the Company and certain of its
officers (the “Complaint”).
If you purchased shares of Marchex during the Class Period, or
purchased shares prior to the Class Period and still hold Marchex, and wish to discuss this
action or have any questions concerning this notice or your rights
or interests, please contact Timothy J. MacFall, Esquire or Peter
Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite
120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to
info@rl-legal.com; or at:
http://rigrodskylong.com/investigations/marchex-inc-mchx.
The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements, and
omitted materially adverse facts, about the Company’s business,
operations and prospects. As a result of defendants’ alleged false
and misleading statements, the Company’s stock traded at
artificially inflated prices during the Class Period.
According to the Complaint, on September 18, 2014, the Company
reported to investors the need to lower future guidance as a result
of a shift in one of its key customer’s payment model. The Company
stated, in relevant part, that Marchex, “lower[ed] its 2014
call-driven revenue outlook . . . [a]s a result of revised
commitments from Allstate in the fourth quarter.” Marchex further
stated that Allstate sought to switch its business with Marchex to
a fixed-fee basis from payments made for each call.
On this news, shares in Marchex dropped over 45%, closing at
$4.07 per share on September 18, 2014, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court
no later than January 18, 2016. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. Any member of the proposed class may move
the court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20151119006744/en/
Rigrodsky & Long, P.A.Timothy J. MacFall, EsquirePeter
Allocco888-969-4242516-683-3516Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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