Glancy Prongay & Murray LLP (GPM) announces that it is investigating potential claims on behalf of investors of Sito Mobile Ltd. (NASDAQ: SITO) (SITO or the Company) and whether the Companys officers and directors complied with their legal obligations to the Company and its shareholders.
The investigation concerns whether the Company and its directors breached any fiduciary duties owed to shareholders.
On January 3, 2017, the Company disclosed undesirable quarterly results for the quarter ending December 31, 2016 that were “negatively affected this year by restrained advertising spending during a period of heightened and elongated media focus on this year’s U.S. election.” The results contradicted positive statements made previously by the Company’s Chief Executive Officer Jerry Hugon November 14, 2016 regarding revenue growth with “a very positive outlook for the remainder of this year and throughout 2017” and that there would not be a significant drop off from the election. On this news, share of SITO fell significantly, thereby injuring investors.
If you own SITO shares, if you 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, 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 protected], 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.
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