Case Page

 

Case Status:    DISMISSED    
On or around 04/06/2016 (Court's order of dismissal)

Filing Date: January 23, 2015

According to the law firm press release, the lawsuit alleges that ChannelAdvisor and certain of its officers and directors issued materially false and misleading statements about the Company’s true financial condition and prospects. On January 12, 2015, the Company lowered its fourth quarter 2014 revenue guidance to $23.7 million from its prior revenue guidance of $25.6 to $26.1 million. The Company attributed the revision to lower variable subscription revenue due to a shift to larger customers. On this news, shares of ChannelAdvisor fell $11.32 per share or over 53% from its previous closing price to close at $9.83 per share on January 13, 2015, damaging investors.

On July 2, 2015, the Court issued an Order transferring this case to the Eastern District of North Carolina.

An amended complaint was filed on August 27, 2015.

On April 6, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. This case was closed.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ECOM
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. North Carolina
DOCKET #: 15-CV-00506
JUDGE: Hon. Nathan
DATE FILED: 01/23/2015
CLASS PERIOD START: 11/06/2014
CLASS PERIOD END: 01/12/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New York)
    350 Fifth Avenue, Suite 5508, The Rosen Law Firm, P.A. (New York), NY 10118
    212.686.1060 212.202.3827 · lrosen@rosenlegal.com
No Document Title Filing Date
COURT: E.D. North Carolina
DOCKET #: 15-CV-00307
JUDGE: Hon. Nathan
DATE FILED: 08/27/2015
CLASS PERIOD START: 11/06/2014
CLASS PERIOD END: 01/12/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Lewis & Roberts, P.L.L.C.
    3700 Glenwood Avenue, Suite 410, Lewis & Roberts, P.L.L.C., NC 27612
    919-981-0191 919-981-0199 ·
  2. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date