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.