According to the law firm press release, MaxPoint Interactive, Inc. ("MaxPoint" or the Company) is a provider of business intelligence and marketing automation software services designed to enable national brands to drive local in-store sales.

On March 6, 2015, MaxPoint completed an IPO, selling more than 6.5 million shares of MaxPoint common stock to the public at $11.50 per share pursuant to a Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with the IPO, raising more than $74.75 million.

The Complaint alleges that the Registration Statement used to conduct the IPO contained false and misleading statements regarding the Company’s financial condition, business and prospects. According to the Complaint, MaxPoint failed to disclose that it was deriving two-thirds of its sales from just 50 customers at the time of the IPO, and that as a result of this high customer concentration, it was more exposed to those 50 customers’ budgetary proclivities and promotional activities. The Complaint also alleges that the Company had been signing smaller customers with smaller advertising budgets in the months leading up to the IPO, and that as a result, MaxPoint’s sales growth was declining at the time of the IPO, which would have a material impact on MaxPoint’s profitability. Since the IPO, the price of MaxPoint common stock has declined approximately 60% and is currently trading at below $5.00 per share.

The Court issued an Order dismissing this case on February 13, 2017.