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Sito Mobile Ltd.

Case Summary

Sito Mobile Ltd. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 09/19/2018 (Ongoing date of last review)

Filing Date: February 17, 2017

According to the law firm press release, the complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Sito’s growth of bookings would not propel the Company’s fourth fiscal quarter 2016 media placement revenues and revenue growth to the level represented during the Class Period; (ii) Sito was aware that the election would impact the Company’s fourth fiscal quarter 2016 revenue, (iii) clients’ campaign spending and media placement revenues in the fourth quarter 2016 was highly dependent on the elections; (iv) the Company’s growth in media placement revenues would not occur in the fourth fiscal quarter 2016; (iv) as a result of the foregoing, the Company’s statements, as well as Defendants’ statements about Sito’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On May 8, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 22.

Company & Securities Information

Defendant: Sito Mobile Ltd.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SITO
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.

First Identified Complaint

Sandi Roper, et al. v. Sito Mobile Ltd., et al.

COURT: D. New Jersey
DOCKET #: 17-CV-01106
JUDGE: Hon. Esther Salas
DATE FILED: 02/17/2017
CLASS PERIOD START: 02/09/2016
CLASS PERIOD END: 01/02/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky
    235 Main Street, Levi & Korsinsky, NJ 07601
    973-265-1600 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Complaint for Violations of the Federal Securities Laws 02/17/2017
2 Order Granting Motion of the Red Oak Funds for Appointment of Lead Plaintiff and Approval of Selection of Counsel 05/08/2017
3 U.S. District Court Civil Docket 05/03/2018

Reference Complaint

Sandi Roper, et al. v. Sito Mobile Ltd., et al.

COURT: D. New Jersey
DOCKET #: 17-CV-01106
JUDGE: Hon. Esther Salas
DATE FILED: 06/22/2017
CLASS PERIOD START: 08/15/2016
CLASS PERIOD END: 01/02/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Complaint for Violations of the Federal Securities Laws 06/22/2017
2 U.S. District Court Civil Docket 09/19/2018
 
 

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