On or around 04/25/2016 (Court's order of dismissal)
Filing Date: November 17, 2015
According to the law firm press release, the lawsuit alleges throughout the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Allstate sought to switch its business with Marchex to a fixed- fee basis from payments made for each call; (2) consequently, Marchex’s revenue would be negatively impacted; and (3) as a result of the foregoing, defendants’ public statements about Marchex’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On March 7, 2016, this case was transferred to the United States District Court for the Western District of Washington.
This case was voluntarily dismissed on April 22, 2016.
Company & Securities Information
Defendant: Marchex, Inc.
Industry: Business Services
Headquarters: United States
Ticker Symbol: MCHX
Company Market: NASDAQ
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.